Battwheelz, an electric mobility as a Service (EMAAS) provider, primarily focused on last-mile delivery, has raised ₹2 crore in its seed funding round led by Finvolve, the multi-stage venture capital fund backed by India Accelerator, along with participation from marquee angel investors.
The fund was raised at a valuation of ₹60 crore.
The funds raised will be used to expand geo operations in Bengaluru and strengthen EV fleet presence in Chennai and Pune.
Founded in 2019 by Ashish Bhatia and Chetan Chaturvedi, Battwheelz provides sustainable logistics solutions using electric vehicles. Battwheelz has successfully launched its operations in Pune, Chennai and Bengaluru.
It is recognised as an “EV” centric 3PL provider with a 100% electric fleet size of 450+ vehicles deployed on 3PL logistics.
Battwheelz is targeting an ₹80 crore fundraise, aiming for 5x growth in topline by FY25. The company is already closing at ₹80 Lakhs in Monthly Recurring Revenue (MRR) and projects a 7x growth in MRR, while maintaining strong unit economics for sustainable and scalable expansion, set to strengthen its growth trajectory with a major focus on achieving a 5x growth in topline by FY25.
The company also projects a 7x growth in Monthly Recurring Revenue (MRR), while maintaining strong unit economics for sustainable and scalable expansion.
Ashish Bhatia, Founder & CEO of IA & Co-Founder of Finvolve, said, “Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale. At Finvolve, we believe in backing companies that are shaping industries for the future with innovation, and our investment in Battwheelz reflects our commitment to enabling cleaner, smarter and more impactful growth in last-mile delivery.”
Chetan Chaturvedi, Founder & MD of Battwheelz, said, “We are on a mission to redefine logistics by making it 100% sustainable and efficient. With Finvolve’s support, we are now equipped to accelerate our expansion across India while staying focused on our vision to reduce carbon footprints and build a cleaner future for logistics.”
