Delhi‑based electric mobility start‑up Pluto Mobility has successfully raised $2 million in a seed funding round to develop delivery‑focused electric vehicles tailored to India’s last‑mile logistics needs. The funding round was led by Version One Ventures, with participation from Grad Capital and strategic backers including founders and senior leaders from logistics and tech firms such as Delhivery, OfBusiness, Pixxel and Boom Supersonic.
The start‑up was co‑founded by Akshat Bhatia and Himanshu Panda, who identified a significant mismatch between existing vehicle designs and the demands of high‑frequency delivery workloads in India’s urban markets. With this fresh capital, Pluto plans to strengthen its engineering and product development teams, expand its workforce, and begin pilot deployments of its purpose‑built EVs in key cities later this year.
Unlike conventional two‑wheelers repurposed for deliveries, Pluto’s vehicles are scooter‑sized and fully covered, designed specifically for logistics operations. These EVs can handle harsh weather conditions and carry up to twice the number of orders compared to traditional two‑wheelers, while retaining agility in congested urban traffic.
The company’s approach involves rethinking vehicle architecture from the ground up, aligning design and engineering with real‑world delivery use cases rather than adapting consumer scooters for commercial workloads. This includes a focus on throughput optimisation, operational reliability and cost‑effective performance without adding complexity for operators.
Industry backers say this differentiated strategy could help address long‑standing inefficiencies in India’s last‑mile delivery sector. “India’s last‑mile challenge isn’t speed, incentives, or apps — it’s that delivery operations are built on vehicles never designed for delivery workloads,” said Pluto Mobility’s CEO, highlighting how the start‑up’s purpose‑built vehicles could improve delivery economics at scale.
Pluto Mobility plans to begin pilot operations in 2026, initially targeting e‑commerce and quick‑commerce segments, and also operates its own fleet to provide delivery services to partner brands. The funding and product strategy position the start‑up as a potential enabler of more efficient and sustainable last‑mile delivery solutions across India’s rapidly evolving logistics landscape.
