Pluto Mobility, an electric mobility startup, has successfully raised $2 million in a seed funding round to support the launch of their innovative electric delivery vehicles. The funding was led by Version One Ventures and Grad Capital, with additional contributions from angel investors.
Founded in 2024 by Akshat Bhatia and Himanshu Panda, Pluto Mobility specializes in engineering scooter-sized electric vehicles designed for last-mile delivery services. The company plans to use the new investment to enhance their engineering capabilities, drive product development, expand their team, and prepare for pilot deployments in major urban areas.
Pluto Mobility’s upcoming scooter-sized model promises full coverage for the driver, offering protection from various weather conditions. This vehicle is optimized to accommodate double the number of orders compared to traditional electric two-wheelers while maintaining excellent maneuverability.
With plans to initiate pilot deployments later this year, Pluto Mobility aims to cater to the rising demand for efficient delivery solutions in the expanding ecommerce and quick commerce sectors. The growth in India’s last-mile delivery market, projected to exceed $300 billion by 2030, underscores the significant opportunity for innovative electric mobility solutions like those offered by Pluto Mobility.
Source: Inc42 Media