Antler India, Alteria Capital, IAN Capital, Climate Angels, Aureolis Capital, and other investors participated in the $2.4 million seed investment round headed by Caret Capital for the EV mobility platform Milo Drive.
According to a press release from Milo Drive, the money raised will help promote the adoption of EVs and formalize job prospects for India’s driver sector.
Monil Jayeshkumar Khatri and Vishal Jewrajka founded Milo Drive in 2024 with the goal of creating an asset-light, technologically advanced EV mobility platform for India’s ride-hailing and urban transit systems. To assist drivers, fleet operators, and mobility entrepreneurs in managing EV operations, the company integrates vehicle access, multi-platform demand, charging information, operator tools, and data-driven automation.
The Gurugram-based startup claims to have powered more than one million rides since its launch. It uses data intelligence and machine learning-led ride assignment to improve vehicle utilisation, driver earnings, and service reliability across demand channels.
According to market research cited by the company, India’s EV ride hailing market is projected to grow from $0.24 billion in 2025 to $4.2 billion by 2030, at a CAGR of 77%.
Milo Drive says its real-time operating system provides live fleet visibility across thousands of vehicles, while AI-driven charging recommendations, predictive maintenance alerts, and automated geofencing are designed to reduce operational downtime and driver idle time. The company adds that its driver app, which includes payment collections, charging guidance, and earnings tracking, has helped increase driver incomes by 20%.
The company said its driver app, which offers features such as payment collection, charging assistance, and earnings tracking, has helped drivers increase their income by 20%.
