New Delhi: Delhi-based electric mobility start-up Pluto Mobility has raised $2 million in a seed funding round led by Version One Ventures, with participation from Grad Capital and founders and senior executives from companies including Delhivery, OfBusiness, Pixxel and Boom Supersonic.
Founded by Akshat Bhatia and Himanshu Panda, the company is building delivery-grade electric vehicles engineered specifically for India’s last-mile logistics conditions.
The start-up said it will use the funds to strengthen its engineering and product development capabilities, expand its team and prepare for pilot deployments across key urban markets later this year.
Pluto Mobility is developing scooter-sized, fully covered electric vehicles designed to handle harsh weather conditions and carry up to twice the number of orders compared with conventional two-wheelers. The company said most last-mile fleets currently rely on standard two-wheelers designed for personal mobility rather than high-frequency, multi-drop logistics operations.
This, it added, forces operators to choose between overloading vehicles and compromising safety, or shifting to larger vehicles that face manoeuvrability challenges in dense urban environments.
By re-engineering vehicles from the ground up around real-world delivery use cases, Pluto aims to help logistics operators improve throughput and reliability without increasing operational complexity or costs.
“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 Akshat Bhatia, CEO of Pluto Mobility.
Boris Wertz, Founding Partner at Version One Ventures, said the company is taking a differentiated approach by designing vehicles specifically for throughput and operational reliability.
Pluto Mobility plans to begin pilot deployments in 2026, targeting e-commerce and quick-commerce delivery use cases. The company also operates its in-house vehicles to provide delivery services for brands.
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