Electric mobility startup Pluto Mobility has raised $2 Mn (₹18.21 Cr) in a seed funding round led by Version One Ventures, with participation from Grad Capital. Besides, the round also saw participation from angel investors that include executives working with companies like Delhivery, OfBusiness and Pixxel. Founded in 2024 by Akshat Bhatia and Himanshu Panda, Pluto engineers scooter-sized EVs purpose-built for last-mile delivery. It plans to use the fresh capital to strengthen engineering and product development, expand its team, and prepare for pilot deployments across key urban markets. It is pertinent to note that the startup is yet to launch its maiden EV product. The scooter-sized vehicle would be fully covered, protecting the driver from harsh weather. It is designed to carry twice as many orders as a typical E2W while retaining manoeuvrability. The startup aims to begin pilot deployments later in 2026 to tap into ecommerce and quick commerce delivery use cases. The development comes as India’s last-mile delivery market is expanding significantly. The market is projected to reach $300.5 Bn by 2030, growing at a CAGR of 6.7% from 2024. Meanwhile, the country’s gig and delivery workforce is estimated at 1.2 Cr workers in FY25 and is projected… Read MoreInc42 Media
