With participation from FAAD, LetsVenture, and Chakra Growth Fund, BluWheelz, a tech-enabled mid- and last-mile logistics solutions provider, has raised USD 1 million in bridge finance led by Venture Catalysts.
BluWheelz sets itself apart from rivals with plans to incorporate 6-wheelers, pioneering EV fleet as a service in the nation, according to a press release. The firm operates in 18 locations and offers a full fleet solution spanning 2-wheelers, 3-wheelers, and 4-wheelers.
Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts stated, “BluWheelz’s innovative approach, combining cutting-edge technology with a commitment to environmental responsibility, aligns perfectly with our investment philosophy. BluWheelz’s impressive growth trajectory, strategic partnerships, and visionary leadership position them as frontrunners in the rapidly evolving EV market.”
Sanjiv Gupta, Founder and Chairman of BluWheelz said, “Today, as Bluwheelz secures pivotal funding, we are on the cusp of seizing a greater share of the EV market.”
“This is a strategic leap towards our goal of expanding our electric fleet with the introduction of cutting-edge 4-wheelers and 6-wheelers, in collaboration with leading OEMs,” said CP Sethi, CEO, BluWheelz.
BluWheelz features a low-cost, high-impact franchising model, technological integration, and strategic alliances for charging and parking infrastructure in addition to relationships with OEMs like Eicher Volvo and Tata Motors.
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