EMAAS provider Battwheelz raises Rs 2 crore at a valuation of Rs 60 crore

Finvolve, the multi-stage VC fund has recently announced its strategic investment in , an Electric Mobility as a Service (EMAAS) provider, primarily focused on last-mile delivery.

Advertisment

The Rs 2 crore seed funding round, which was raised at a valuation of Rs 60 crore, also saw participation from other marquee angel investors.

The startup plans to use the raised capital to expand geo operations in Bengaluru and strengthen EV fleet presence in Chennai and Pune.

Founded in 2022, Battwheelz has launched its operations in Pune, Chennai and Bengaluru. It is recognised as an “EV” centric 3PL provider with a 100% electric fleet size of 450+ vehicles deployed on 3PL logistics.

Ashish Bhatia, Founder & CEO of IA & 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."

Chetan Chaturvedi, Founder and MD of Battwheelz said, “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 targeting an Rs 80 crore fundraise, aiming for 5x growth in topline by FY25. The startup said it is closing at Rs 80 lakh in Monthly Recurring Revenue (MRR) and projects a 7x growth in MRR. 

It also projects a 7x growth in Monthly Recurring Revenue (MRR), while maintaining strong unit economics for sustainable and scalable expansion.