EV startup Pluto Mobility has raised $2 million (approximately ₹16.6 crore) in a seed funding round led by Version One Ventures, with participation from Grad Capital. The round also saw backing from founders and senior executives of companies such as Delhivery, OfBusiness, Pixxel, and Boom Supersonic, reflecting strong confidence from experienced operators across logistics and deeptech.
Capital to support engineering and pilot deployments
The fresh capital will be used to strengthen engineering and product development, expand its team, and begin pilot deployments in key urban markets. The startup plans to initiate pilot programs in 2026, targeting e-commerce and quick commerce companies that depend heavily on efficient last-mile delivery infrastructure.
Building purpose-designed EVs for delivery fleets
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is building electric vehicles designed specifically for last-mile logistics use cases. Unlike conventional electric scooters, the company is developing scooter-sized, fully covered electric delivery vehicles designed to operate reliably in harsh weather conditions while improving delivery efficiency.
Focused on efficiency, durability, and logistics performance
The vehicle is engineered to carry up to twice the number of orders compared to standard two-wheelers, helping delivery operators improve throughput without increasing fleet size or operational complexity. Pluto Mobility is building its vehicles from the ground up with a focus on durability, cost efficiency, and operational reliability, addressing key pain points faced by logistics fleets.
Positioning for India’s growing delivery and EV ecosystem
As India’s e-commerce and quick-commerce sectors continue to grow rapidly, demand for purpose-built electric delivery vehicles is increasing. Pluto Mobility aims to position itself as a specialised EV manufacturer focused on logistics-first vehicle design, supporting faster, more efficient, and scalable last-mile delivery operations.
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