EV startup Pluto Mobility raises $2 M Seed funding from Grad Capital, Version One Ventures

Pluto Mobility, an EV startup, has raised $2 million in a seed funding round led by Grad Capital and Version One Ventures.

In addition, founders and senior executives from Delhivery, OfBusiness, Pixxel, and Boom Supersonic invested in the round.

The money will go toward growing the company’s workforce, bolstering engineering and product development, and starting pilot deployments in strategic urban markets.

Akshat Bhatia and Himanshu Panda founded the Delhi-based startup, which manufactures electric cars with a focus on last-mile logistics applications.

Scooters-sized, fully covered electric delivery vehicles are being developed by Pluto Mobility. The vehicle can transport up to twice as many orders as a typical two-wheeler and is built to function in inclement weather.

With an emphasis on throughput, durability, and cost effectiveness without adding to fleet complexity, Pluto Mobility is developing its vehicles from the ground up for delivery workloads.

In 2026, the startup plans to start pilot deployments, focusing on operators of quick-commerce and e-commerce.