EV fleet-as-a-service startup Bluwheelz raises $500K led by FAAD Network

New Delhi-based electric vehicle fleet-as-a-service startup Bluwheelz has raised $500,000 in a seed funding round led by Faad Network, with participation from Lets Venture and other investors, including High-Net-Worth Individuals (HNIs), a family office, and marquee angel investors from both India and the United States.

With this round of funding, The startup plans to focus on expanding its presence in other parts of the country over the next six months. It also looks to invest in advanced technology and innovations, enhance its service offerings, and strengthen its partnerships with various stakeholders in the electric mobility ecosystem.

Founded in 2022 by Jaspreet Dhingra, Sanjiv Gupta, and Chanpreet Sethi, Bluwheelz offers a wide range of electric vehicles in a fleet. As a service model, catering to the requirements of corporate clients operating in the domain of e-commerce, logistics, FMCG, food delivery, Pharma, durables, urban mobility and many more.

"We are ecstatic to have raised this seed funding with the support. This infusion of capital will be instrumental in accelerating our mission to bring clean and sustainable mobility solutions to urban areas across the country. Our commitment to reducing carbon footprints while providing superior mobility services remains unwavering," said Chanpreet Singh Sethi, co-founder and CEO, Bluwheelz.

Commenting on the investment, Aditya Arora from Faad Network, said, "Bluwheelz is changing the world by reducing pollution levels and solving for low adoption of commercial EVs. This is in line with our endearing vision to support enterprising ideas which are disrupting existing markets with technology intervention and driving massive consumption."

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