Inflection Point Ventures, Spectrum Impact (Aarti Industries Family Office), and Bizdateup led the Rs 4 crore seed funding round for electric vehicle startup MOOEV Technologies.
An initial fleet of 15 electric heavy-duty trucks will be deployed with the help of the additional funding. According to a press release, MOOEV also intends to install high-voltage charging infrastructure to support this fleet.
MOOEV, which was founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, provides a thorough engineering approach to address important issues in the Indian market for electric heavy-duty vehicles. The company provides engineering, operations, and management solutions to enable the sustainable deployment of new fleets for short-haul transportation, and it supports the conversion of heavy-duty freight fleets to electric.
MOOEV, a Chennai-based company, is now working with more than five significant business groups that are considering incorporating its fleet of electric trucks into their logistics processes. The company also wants to increase the number of vehicles it can support by expanding its charging infrastructure in order to offer EV Fleet-as-a-Service and EV Charge-as-a-Service.
Market research indicates that by the end of March 2025, the number of electric trucks in India is expected to reach 4,000–6,000 units.
