In a significant boost to India’s electric logistics ecosystem, Pluto Mobility Raises $2Mn in a seed funding round aimed at transforming last-mile delivery vehicles. The Delhi-based electric mobility startup secured $2 million (approximately ₹18.21 crore) to accelerate engineering, team expansion, and pilot deployments across major Indian cities later in 2026.
Funding Details and Key Investors
The round was led by Version One Ventures, with participation from Grad Capital. The funding also attracted notable founders and senior executives from leading companies such as Delhivery, OfBusiness, Pixxel, and Boom Supersonic.
Boris Wertz, Founding Partner at Version One Ventures, highlighted that Pluto Mobility’s approach centres on operational reliability—an aspect often overlooked in conventional delivery vehicle design.
The Core Problem in Last-Mile Delivery
India’s booming e-commerce and quick-commerce sectors rely heavily on two-wheelers designed for personal mobility, not for high-frequency, multi-stop delivery workloads. According to CEO Akshat Bhatia, the mismatch between vehicle design and delivery demands limits load capacity, increases operational inefficiencies, and impacts overall delivery economics.
This is where Pluto Mobility Raises $2Mn becomes strategically important. The startup aims to solve structural inefficiencies by engineering vehicles purpose-built for logistics rather than retrofitting personal scooters for commercial use.
Delivery-Grade EVs: Built from the Ground Up
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is developing compact, fully covered electric vehicles specifically tailored for delivery operations.
Key Features & Capabilities:
- 2x Load Capacity: Vehicles can carry up to twice the number of orders per trip compared to standard two-wheelers.
- Scooter-Sized Design: Maintains urban manoeuvrability, allowing smooth navigation through narrow lanes and dense city traffic.
- Fully Covered Structure: Protects delivery partners from extreme weather conditions.
- Reverse Mode Functionality: Enables easier handling without riders needing to put their feet down, improving efficiency and comfort.
By combining higher payload capacity with two-wheeler agility, Pluto Mobility aims to optimise both order density and rider productivity.
Use of Funds and Roadmap
With Pluto Mobility Raises $2Mn, the startup plans to:
- Strengthen engineering and R&D capabilities
- Expand its core team
- Prepare pilot deployments in major Indian cities
- Target partnerships with e-commerce and quick-commerce operators
The upcoming pilots will validate performance at scale and demonstrate how delivery-first EV design can enhance operational efficiency.
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