Pluto Mobility raises $2 million seed funding to build delivery-grade vehicles for last-mile logistics.EV startup Pluto Mobility has raised $2 million 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 including Delhivery, OfBusiness, Pixxel and Boom Supersonic.
The fresh capital will be used to strengthen engineering and product development capabilities, hire talent, and prepare for pilot deployments across key urban markets.
“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. That mismatch caps how much can be moved per trip, increases failures at scale, and quietly affects delivery economics,” said Akshat Bhatia, CEO of Pluto Mobility.
Founded by Bhatia and Himanshu Panda, Pluto Mobility is building scooter-sized, delivery-grade electric vehicles built for last-mile delivery, capable of carrying up to 2x more orders per trip and reducing delivery costs per order.
“Pluto Mobility is taking a fundamentally different approach to last-mile delivery by designing vehicles specifically for throughput and operational reliability,” said Boris Wertz, Founding Partner at Version One Ventures.
The Delhi-based start-up operates its own fleet of in-house vehicles to deliver services for brands. It plans to roll out pilot deployments later in 2026, focusing on e-commerce and quick-commerce use cases.
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