Electric vehicle startup MOOEV Technologies has raised ₹4 crore in seed funding, led by Bizdateup, with participation from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office).

Utilization of Funds

The funding will support the deployment of an initial fleet of 15 electric heavy-duty trucks and the establishment of high-voltage charging infrastructure to power the fleet.

About MOOEV

Founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, MOOEV provides engineering, operational, and management solutions for the electrification of heavy-duty freight fleets in India. Based in Chennai, the company focuses on facilitating the sustainable adoption of electric vehicles for short-haul transportation.

Key Collaborations and Expansion Plans

MOOEV is working with over five major corporate groups to integrate its electric trucks into their logistics operations. It also plans to expand its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings by broadening its charging infrastructure for future growth.

Market Outlook

India’s electric truck segment is expected to grow to 4,000-6,000 units by March 2025, highlighting the rising demand for sustainable logistics solutions.

Source: Entrackr