Delhi | February 19, 2026: Pluto Mobility, a Delhi-based electric mobility start-up focused on last-mile logistics, has raised $2 million in seed funding. The round was led by Version One Ventures, with participation from Grad Capital and several prominent founders and senior executives from Delhivery, OfBusiness, Pixxel, and Boom Supersonic.
Founded by Akshat Bhatia and Himanshu Panda, Pluto Mobility is building delivery-grade electric vehicles engineered specifically for India’s last-mile delivery conditions. Unlike conventional two-wheelers designed for personal mobility, Pluto’s vehicles are scooter-sized, fully covered, weather-resistant, and capable of carrying twice the number of orders per trip compared to standard 2-wheelers.
Strategic Use of Funds
The fresh capital will be used to:
- Strengthen engineering and product development capabilities.
- Expand the core team.
- Prepare for pilot deployments across key urban markets later in 2026.
Why Pluto Mobility Matters
Most last-mile delivery fleets in India rely on personal-use two-wheelers, which are not designed for high-frequency, multi-drop logistics workloads. This forces operators into trade-offs between overloading vehicles and compromising safety, or shifting to larger vehicles that struggle in dense urban environments.
Pluto Mobility addresses this gap by rethinking engineering from the ground up, creating vehicles that:
- Safely carry 2× more orders per trip.
- Preserve the manoeuvrability and durability of a two-wheeler.
- Improve delivery economics and reliability without increasing operational complexity.
Akshat Bhatia, CEO, Pluto Mobility, said: “India’s last-mile challenge isn’t speed, incentives, or apps. It’s that delivery operations are built on vehicles never designed for delivery workloads. That mismatch caps throughput, increases failures at scale, and quietly affects delivery economics.”
Boris Wertz, Founding Partner, Version One Ventures, added: “Pluto Mobility is taking a fundamentally different approach to last-mile delivery by designing vehicles specifically for throughput and operational reliability.”
Next Steps
Pluto Mobility will begin pilot deployments later in 2026, targeting e-commerce and quick-commerce delivery use cases.
About Pluto Mobility
Pluto Mobility is building scooter-sized electric vehicles purpose-built for last-mile delivery. Its vehicles are designed to carry 2× more orders per trip, reduce delivery costs per order, and improve operational reliability. The company also operates its in-house vehicles to provide delivery services for partner brands.
🌐 Website: www.plutomobility.in
