Battwheelz, an electric mobility as a service (eMaaS) startup with a sharp focus on the last-mile delivery sector, has successfully raised ₹2 crore in a seed funding round. The investment was led by Finvolve, a multi-stage venture capital fund backed by India Accelerator, with participation from other angel investors. This funding, raised at a post-money valuation of ₹60 crore, will provide the necessary capital for Battwheelz to scale its operations and solidify its position in the rapidly growing EV logistics market.
Powering Sustainable Last-Mile Delivery
Founded in 2022, Battwheelz has quickly established itself as a key player in the EV-based third-party logistics (3PL) segment. The company operates a fully electric fleet of over 450 vehicles across Pune, Chennai, and Bengaluru, providing efficient and sustainable delivery solutions to its clients. By offering an integrated eMaaS platform, Battwheelz addresses the critical need for clean, reliable, and cost-effective logistics in India’s booming e-commerce and quick-commerce sectors.
The fresh infusion of capital will be strategically deployed to fuel the company’s next phase of growth. The primary objectives are:
- Operational Expansion: A significant portion of the funds will be used to expand Battwheelz’s operations in Bengaluru, a key logistics hub.
- Fleet Enhancement: The company will also enhance its electric vehicle fleet in its existing markets of Chennai and Pune, increasing its capacity to serve a growing client base.
A Vision for a Greener Future in Logistics
Chetan Chaturvedi, the founder and Managing Director of Battwheelz, expressed his vision for the company: “We are on a mission to redefine logistics by making it 100% sustainable and efficient.” This mission is clearly resonating with investors. Ashish Bhatia, a key figure at Finvolve and India Accelerator, highlighted the strategic importance of Battwheelz’s business model, stating, “Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale.”
The company has demonstrated strong financial performance, with a current Monthly Recurring Revenue (MRR) of ₹80 lakh. With the new funding, Battwheelz projects a sevenfold increase in its MRR while maintaining profitability at the unit level.
Ambitious Growth Plans on the Horizon
This seed funding round is just the beginning for Battwheelz. The company has ambitious plans to raise up to ₹80 crore in its next funding round and aims to achieve a fivefold growth in its topline revenue by the fiscal year 2025. This rapid scaling strategy reflects the immense market opportunity in the EV logistics space, as more and more companies look to reduce their carbon footprint and optimize their supply chains.
By combining a strong operational model with a clear vision for sustainability, Battwheelz is well-positioned to become a leader in India’s last-mile delivery revolution. This seed funding round is a crucial step that will enable the company to accelerate its growth, expand its reach, and make a significant contribution to building a cleaner, smarter future for logistics in India.
