Electric Mobility as a Service (EMAAS) provider Battwheelz has raised Rs 2 crore in seed funding led by Finvolve, a multi-stage venture capital fund, at a valuation of Rs 60 crore. The round also saw participation from several marquee angel investors, signaling growing investor confidence in the sustainable logistics sector.
The funding will help Battwheelz expand its operational footprint in Bengaluru while strengthening its electric vehicle (EV) fleet presence in Chennai and Pune. The company aims to use the funds to enhance logistics efficiency, improve technology integration, and scale its clean mobility model across India.
Expansion Plans Accelerate
Founded in 2022, Battwheelz has already built a strong presence in Pune, Chennai, and Bengaluru, positioning itself as one of India’s few logistics providers with a 100% electric fleet. Currently, it operates over 450 EVs under its third-party logistics (3PL) division, serving multiple e-commerce and delivery clients.
The company’s model focuses on blending sustainability and scalability — a strategy that aligns well with India’s growing push toward green mobility. Battwheelz believes that electric last-mile delivery will not only cut costs but also significantly reduce carbon emissions in the logistics sector.
Investors Back Green Logistics
Ashish Bhatia, Founder & CEO of IA and Co-founder of Finvolve, expressed strong conviction in Battwheelz’s mission. “Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale,” said Bhatia. “Our investment reflects our commitment to supporting companies that drive cleaner, smarter, and more impactful growth in last-mile delivery.”
The funding is a part of Finvolve’s broader vision to back innovative startups shaping the future of mobility and logistics. By investing in Battwheelz, the fund aims to enable faster adoption of EVs and encourage sustainable business practices across supply chains.
Focus on Scalable Growth
Chetan Chaturvedi, Founder and Managing Director of Battwheelz, highlighted the company’s long-term vision to revolutionize logistics through clean technology. “We are on a mission to redefine logistics by making it 100% sustainable and efficient,” Chaturvedi said. “With Finvolve’s support, we can now accelerate our expansion across India while staying true to our goal of reducing carbon footprints and creating a cleaner logistics future.”
Currently, Battwheelz has achieved a Monthly Recurring Revenue (MRR) of Rs 80 lakh and aims for a 7x growth in MRR by FY25. The company also targets a 5x topline increase, supported by efficient unit economics and consistent operational scaling.
Future Fundraising Goals
With this investment, Battwheelz is now gearing up for a larger Rs 80 crore funding round, which will further boost its growth trajectory. The startup’s focus remains on developing a robust fleet infrastructure, strengthening partnerships with e-commerce platforms, and improving battery performance for longer delivery runs.
The company plans to channel future investments into fleet electrification, charging infrastructure, and proprietary software systems that optimize route planning, reduce downtime, and enhance delivery efficiency.
What is Battwheelz
Battwheelz is an Electric Mobility as a Service (EMAAS) company that provides end-to-end last-mile delivery solutions using a fully electric fleet. Founded in 2022, the startup aims to make logistics greener, more cost-effective, and technologically advanced.
It operates as a 3PL (third-party logistics) provider, offering electric mobility services to businesses in e-commerce, retail, and supply chain management. Battwheelz’s 450+ EV fleet runs entirely on renewable energy, helping partner companies achieve sustainability goals while reducing delivery costs.
The company’s vision aligns with India’s broader sustainability agenda, positioning it as a key player in the country’s growing electric mobility ecosystem. With the latest investment, Battwheelz is set to strengthen its role in shaping the future of logistics — one clean delivery at a time.
