India, September 2025: Battwheelz, one of India’s fastest-growing Electric Mobility-as-a-Service (EMAAS) startups, has raised ₹2 crore in seed funding led by Finvolve, a multi-stage VC fund backed by India Accelerator, along with participation from marquee angel investors. The round was closed at a valuation of ₹60 crore and will be used to expand operations in Bengaluru and strengthen EV fleet presence in Chennai and Pune.
Founded in 2022, Battwheelz operates a 100% electric fleet of over 450 vehicles deployed across 3PL logistics. The company is recognized as an EV-centric third-party logistics provider focused on last-mile delivery, combining sustainability with operational scale.
With this funding, Battwheelz is targeting an ₹80 crore fundraise, aiming for 5x topline growth by FY25. The company currently clocks ₹80 lakh in Monthly Recurring Revenue (MRR) and projects a 7x increase in MRR, while maintaining strong unit economics for scalable and sustainable growth.
Finvolve’s investment portfolio spans high-impact sectors including EV & clean mobility, defence-tech, consumer internet, fintech, healthcare, and enterprise solutions. Backed by India Accelerator’s multi-thesis approach, Finvolve continues to strengthen India’s startup ecosystem by supporting ventures that blend innovation, scalability, and sustainability.
