Pluto Mobility, a Delhi-based 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 founders and senior executives from Delhivery, OfBusiness, Pixxel and Boom Supersonic.
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is developing electric vehicles designed for last-mile delivery use cases in India. The company plans to use the funds to strengthen its engineering and product development teams, expand hiring, and initiate pilot deployments in selected urban markets.
Pluto Mobility is developing covered, scooter-sized electric vehicles for last-mile delivery that are designed to operate in varied weather conditions and carry up to twice the number of orders compared to standard two-wheelers. The company states that many delivery fleets currently use vehicles designed for personal mobility, which can limit load capacity or require a shift to larger vehicles. Pluto Mobility’s vehicle aims to increase order volumes per trip while retaining the form factor and operational characteristics of a two-wheeler.
Akshat Bhatia, CEO of Pluto Mobility, said “India’s last-mile challenge isn’t speed, incentives, or apps. It’s that delivery operations are built on vehicles never designed for delivery workloads. “That mismatch caps how much can be moved per trip, increases failures at scale, and quietly affects delivery economics.”
Boris Wertz, Founding Partner at Version One Ventures, said “Pluto Mobility is taking a fundamentally different approach to last-mile delivery by designing vehicles specifically for throughput and operational reliability.”
Pluto Mobility plans to begin pilot deployments in 2026, targeting e-commerce and quick-commerce delivery segments.
Also read: EMO Energy launches NEXO, an integrated energy ecosystem for last-mile delivery
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