Delhi-based EV startup Pluto Mobility has officially closed a $2 million seed funding round, signaling a shift toward purpose-built vehicles for the grueling logistics sector. The investment was led by Version One Ventures, with significant backing from Grad Capital.
The round also attracted a high-profile roster of angel investors, including founders and senior executives from industry giants like Delhivery, OfBusiness, Pixxel, and Boom Supersonic.
Engineering a Better Delivery Vehicle
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is moving away from the “one-size-fits-all” approach of traditional two-wheelers. Instead, they are developing fully covered, scooter-sized electric vehicles designed to solve three specific pain points in the delivery ecosystem:
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Weather Resilience: The enclosed design allows drivers to operate safely and comfortably in harsh conditions.
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Superior Throughput: The vehicle is engineered to carry twice the order volume of a standard scooter.
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Operational Efficiency: By building from the ground up, the startup focuses on durability and cost-effectiveness without adding complexity to existing delivery fleets.
Scaling for 2026
Pluto Mobility plans to use the fresh capital to bolster its engineering team and accelerate product development. The company has set its sights on 2026 for initial pilot deployments, where they will partner with major e-commerce and quick-commerce operators to test the vehicles in dense urban markets.
“Pluto Mobility is building its vehicles from the ground up for delivery workloads, focusing on throughput, durability, and cost efficiency.”
By: Sandhya Bharti
