Finvolve, a leading multi-stage venture capital fund, has announced a strategic investment of ₹2 crore in Battwheelz, one of India’s fastest-growing Electric Mobility as a Service (EMAAS) providers focused on sustainable last-mile delivery. The seed funding round, raised at a valuation of ₹60 crore, also saw participation from several marquee angel investors.
The freshly infused capital will be utilized to expand Battwheelz’s geographical footprint in Bengaluru and strengthen its electric fleet operations in Chennai and Pune, further consolidating its presence in the southern logistics market.
Founded in 2022, Battwheelz has quickly emerged as a 100% electric 3PL (third-party logistics) provider with a fleet of over 450 EVs deployed across key Indian cities. The company’s commitment to sustainable mobility has made it a preferred logistics partner for eco-conscious enterprises.
Commenting on the investment, Ashish Bhatia, Founder & CEO of India Accelerator and 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.
Expressing his enthusiasm, Chetan Chaturvedi, Founder & Managing Director of Battwheelz, stated, 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.
With this investment, Battwheelz is eyeing an ₹80 crore fundraise and targeting 5x topline growth by FY25. The company currently reports a Monthly Recurring Revenue (MRR) of ₹80 lakh and projects a 7x growth in MRR, maintaining strong unit economics to ensure sustainable scalability.
Finvolve, backed by India Accelerator, continues to strengthen its diverse investment portfolio across sectors such as EV and clean mobility, defence-tech, consumer internet, fintech, healthcare, and enterprise solutions. Through strategic funding and mentorship, the firm is actively fueling the growth of India’s startup ecosystem—driving innovation, scalability, and sustainability across industries.
