Pluto Mobility raises $2 Mn in seed round

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

The round also saw investment from founders and senior executives from companies such as Delhivery, OfBusiness, Pixxel and Boom Supersonic.

The proceeds will be used to strengthen engineering and product development, expand its team and begin pilot deployments in key urban markets

Founded by Akshat Bhatia and Himanshu Panda, the Delhi-based startup is building electric vehicles designed specifically for last-mile logistics use cases. 

Pluto Mobility is developing scooter-sized, fully covered electric delivery vehicles. The vehicle is designed to operate in harsh weather conditions and carry up to twice the number of orders compared to a standard two-wheeler.

Pluto Mobility is building its vehicles from the ground up for delivery workloads, focusing on throughput, durability and cost efficiency without increasing fleet complexity.

The startup will begin pilot deployments in 2026, targeting e-commerce and quick-commerce operators.