Delhi-based electric mobility start-up Pluto Mobility has raised $2 million in a seed funding round led by Version One Ventures, with participation from Grad Capital and founders and senior executives from companies including Delhivery, OfBusiness, Pixxel and Boom Supersonic.
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is developing delivery-grade electric vehicles designed specifically for India’s last-mile logistics needs. The fresh capital will be used to strengthen engineering and product development, expand the team, and prepare for pilot deployments across key urban markets.
Pluto Mobility is building scooter-sized, fully covered electric delivery vehicles capable of carrying up to twice the number of orders compared to traditional two-wheelers, while maintaining manoeuvrability and durability. The vehicles are engineered to handle harsh weather conditions and high-frequency delivery workloads common in India’s dense urban environments.
The company is rethinking vehicle design from the ground up, focusing on real-world delivery use cases to improve throughput and reliability without increasing operational complexity or costs for logistics operators. Currently, most last-mile fleets rely on personal mobility two-wheelers, forcing operators to compromise between safety, capacity and efficiency.
“India’s last-mile challenge isn’t speed or incentives, but vehicles that were never designed for delivery workloads,” said Akshat Bhatia, CEO of Pluto Mobility. “That mismatch limits throughput, increases failures at scale and impacts delivery economics.”
Boris Wertz, Founding Partner at Version One Ventures, said Pluto Mobility is taking a fundamentally different approach by designing vehicles optimized for throughput and operational reliability.
Pluto Mobility plans to begin pilot deployments later in 2026, targeting e-commerce and quick-commerce delivery applications, as it aims to reshape India’s last-mile delivery infrastructure with purpose-built electric vehicles.
