BillionElectric has made its debut in the Indian market, securing $10 million in a seed round of equity and asset lease funding.
The funds raised will be strategically allocated to two key initiatives: firstly, the deployment of electric tarmac buses at the Bengaluru international airport, and secondly, the development of a mid-mile heavy EV trucks platform.
The company has already inked a contract to expand its services to ten additional airports across India, following the initial launch in Bengaluru in collaboration with Veera Vahana.
The funds raised will play a vital role in supporting and accelerating the expansion of operations. As part of its comprehensive E-MaaS offering, BillionElectric will provide a wide range of services, including electric vehicles, charging infrastructure in collaboration with CHARGE+ZONE, and an integrated E-Mobility platform, ensuring seamless operations.
Additionally, the platform will extend its support to commercial electric vehicles, facilitating zero emissions driven & efficient transportation of goods for large corporates.
Kartikey Hariyani, Co-Founder, Chief Platform Architect, BillionElectric says, “We are thrilled to announce the launch of BillionElectric, our revolutionary E-Mobility as a Service platform, accompanied by the successful completion of our seed funding round. Over the last 2 years of product development and software innovation, this is our significant investment as it serves as a powerful catalyst in our mission to reshape the transportation landscape and offer cutting-edge, cost-effective, and sustainable mobility solutions to businesses and individuals alike. As we embark on this transformative journey, it is worth noting that the eMobiltiy industry is projected to experience remarkable growth, estimated to reach a staggering $6 billion by 2024.
Mustafa Wajid, Co-founder, Chief Advisor- Business & Strategy, BillionElectric added, “At BillionElectric, we are committed to spearheading this paradigm shift from molecules to electrons and thereby empowering intercity logistic companies to thrive in this evolving landscape by embracing our E-MaaS platform. Together, we can accelerate the transition towards a greener, more sustainable future with a mission to deliver One Billion clean energy miles per year.”
With a steadfast mission to expedite the adoption of electric vehicles (EVs) in India, BillionElectric strives to achieve an impressive milestone of covering a billion clean energy miles annually through its e-mobility service. The company has forged strategic partnerships with leading OEMs to deliver top-notch vehicles.
Additionally, the charging infrastructure will be reinforced by CHARGE+ZONE, which has a nationwide network of charging stations.
The powerful combination of these elements, along with the platform itself, guarantees a competitive edge in terms of mobility economics. Moreover, it facilitates the collection of user behavior data, identification of charging stations, vehicle tracking with geofencing capabilities, and access to immobilization technology.
With this, BillionElectric plans to overcome the challenges in the commercial mobility sector such as high running cost of vehicles, limited availability of quality EVs, high cost of switching, lack of charging infrastructure, and pan India service by providing a one stop solution to all the hurdles on the platform at a very optimal cost.