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Pluto Mobility Raises $2 Million Seed Funding to Advance Delivery EVs

Tech |New Energy Technology

Pluto Mobility has raised $2 million in seed funding led by Version One Ventures, with backing from Grad Capital and industry leaders, to scale its last-mile EV logistics operations.

950 views | Date: February 19, 2026

Pluto Mobility Raises $2 Million Seed Funding to Advance Delivery EVs

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New Delhi - Pluto Mobility, an electric mobility startup focused on last-mile logistics, has raised $2 million in a seed funding round led by Version One Ventures, with participation from Grad Capital. The round also included backing from founders and executives linked to Delhivery, Of Business, Pixxel, and Boom Supersonic.

Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is building purpose-built electric vehicles for last-mile delivery. Its scooter-sized, fully covered vehicle can handle harsh weather and carry up to twice the load of a standard two-wheeler while maintaining urban manoeuvrability.

The company follows a ground-up engineering approach, improving delivery throughput and reliability without increasing operational complexity.

Mr. Akshat Bhatia, CEO, said, “India’s last-mile challenge isn’t speed, incentives, or apps—it’s the mismatch between delivery needs and vehicles used.”

The funding will support product development, team expansion, and pilot deployments across key cities. Pluto Mobility plans to begin pilots in 2026, targeting e-commerce and quick-commerce segments.