In a strategic move to strengthen sustainable urban logistics, Finvolve, a leading multi-stage venture capital fund backed by India Accelerator, has invested ₹2 crore in Battwheelz, one of India’s fastest-growing Electric Mobility as a Service (EMAAS) providers focused on 100% electric last-mile delivery. The seed funding round, conducted at a ₹60 crore valuation, also attracted participation from several prominent angel investors.
Capital to Drive Expansion in Southern India
The newly infused capital will be utilised to expand Battwheelz’s operations in Bengaluru while enhancing its electric fleet operations in Chennai and Pune, consolidating the company’s presence in the southern logistics market. Founded in 2022, Battwheelz has quickly become a preferred eco-friendly third-party logistics (3PL) provider, operating a fleet of over 450 EVs across key Indian cities and serving enterprises committed to sustainability.
Leadership Perspectives on Sustainable Growth
Ashish Bhatia, founder & CEO of India Accelerator and co-founder of Finvolve, commented:
“Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale. At Finvolve, we back companies shaping industries with innovation, and our investment reflects our commitment to cleaner, smarter, and impactful last-mile delivery solutions.”
Chetan Chaturvedi, founder & managing director of Battwheelz, added:
“We are on a mission to redefine logistics by making it fully sustainable and efficient. With Finvolve’s support, we are equipped to accelerate our expansion across India while maintaining our focus on reducing carbon footprints and building a cleaner future for logistics.”
Growth Targets and Market Outlook
With this investment, Battwheelz is targeting an ₹80 crore fundraise and aims for 5x topline growth by FY25. The company currently reports a Monthly Recurring Revenue (MRR) of ₹80 lakh and projects a 7x growth in MRR, emphasising strong unit economics to ensure sustainable scalability.
The company’s model addresses the growing demand for eco-conscious delivery solutions in India, helping corporates meet ESG targets while improving operational efficiency.
Finvolve’s Role in India’s Startup Ecosystem
Finvolve continues to expand its portfolio across sectors, including EV and clean mobility, defence tech, consumer internet, fintech, healthcare, and enterprise solutions. Through strategic funding and mentorship, the firm supports startups in scaling operations, driving innovation, and promoting sustainability-driven business models across industries.
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