BluSmart, India’s premier electric ride-hailing service, raises $50 million at a $335 million valuation. Funds will drive expansion into Mumbai, scaling Bengaluru operations, and adding a premium fleet. With FY24 revenues at ₹376 crore, BluSmart is challenging ride-hailing giants while advancing sustainable urban transport solutions.
Electric tractor startup Moonrider has raised $2.2 million in seed funding, led by AdvantEdge Founders and Micelio Technology Fund. Founded in 2023, the Bengaluru-based company develops cost-effective, climate-friendly tractors with proprietary battery technology. With 75% lower operating costs, Moonrider aims to transform farming while advancing sustainable mechanization globally.
EMO Energy, a deep-tech startup revolutionizing EV charging, has raised $6.2M in Series A funding led by Subhkam Ventures. The funds will expand battery and charger deployment, enabling 20-minute recharges for electric two- and three-wheelers. With top clients like BigBasket, EMO aims to double revenues by March 2025.
Bengaluru-based Oben Electric has raised $6 million in Series A funding to expand its EV operations nationwide. The funds will support over 100 showrooms and 50 service centers across India by 2026. Known for its flagship electric motorcycle, Rorr, Oben aims to become a global EV powerhouse by 2025.
EMotorad, India’s leading e-mobility brand, has surpassed its FY24 domestic sales in the first half of FY25, with September 2024 marking its highest-ever monthly revenue. The company’s growth is fueled by strategic expansion, including 12 new experience stores and partnerships with over 550 dealers nationwide. EMotorad is on track to achieve over 200% year-on-year growth, reflecting the rising demand for sustainable mobility solutions.
MOOEV Technologies, an electric vehicle startup, has raised ₹4 crore in seed funding led by Bizdateup, with support from Inflection Point Ventures and Spectrum Impact. Founded in 2021, MOOEV focuses on electrifying heavy-duty freight fleets, offering engineering and operational solutions. The funds will be used to deploy 15 electric trucks and expand high-voltage charging infrastructure. Based in Chennai, the company is collaborating with major corporates and plans to grow its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings.
Hala Mobility, a Hyderabad-based EV-as-a-service startup, has raised ₹51 crore in a pre-Series A round led by its founders and notable investors. Founded in 2020, Hala provides EV management solutions primarily for e-commerce and gig workers. The new funding will drive expansion into six additional cities and the deployment of 10,000 electric vehicles by next year, furthering Hala’s mission to support sustainable urban mobility across India.
JSW MG Motor India has selected seven startups for its MG Developer Program Season 5.0, focusing on integrating AI with electric mobility. These startups will develop innovative solutions to transform the electric vehicle industry, with support from partners like AWS and Exicom.
