India’s transport sector is undergoing a dramatic shift. New-age companies are coming forward with innovative solutions, driven by the need for electrification, green transport, smart tech, and government support. Investors are also watching; in 2024, mobility startup funding grew strongly, reflecting the hope for India’s transport landscape in the future.
India’s electric vehicle (EV) market is expected to reach annual sales of 10 million units by 2030 at a compound annual growth rate (CAGR) of 40%, according to Bain & Company’s report. Startups operating in the areas of electric mobility, shared mobility, battery tech, charging infrastructure, and intelligent logistics are witnessing gigantic growth due to this trend.
Let us take a look at some of the top Indian mobility firms that are likely to make their presence felt in 2025, and an overview of the investment climate that is facilitating their growth.
1. Ather Energy
Established: 2013
Founders: Tarun Mehta and Swapnil Jain
Headquarters: Bengaluru
What They Do: Ather Energy manufactures and designs premium electric scooters such as the Ather 450X and Ather 450S. The company also builds quick-charging infrastructure within cities as part of the “Ather Grid” network.
Reasons to Watch in 2025:
Hero MotoCorp and the National Investment and Infrastructure Fund (NIIF) led Ather’s $128 million financing just raised. Ather stands poised for remarkable growth in 2025 to launch new models of scooters, expand its charging infrastructure, and move into smaller cities.
2. BluSmart Mobility
Established: 2019
Founders: Anmol Jaggi and Puneet Singh Jaggi
Headquarters: Gurugram
What They Do: BluSmart operates the first all-electric ride-hailing service in India. It offers EV-powered taxis with no peak pricing or driver cancellations.
Reasons to Watch in 2025:
BluSmart recently raised a $25 million funding from responsAbility Investments AG and received $42 million in Series A funding. To encourage urban transportation that is sustainable, it is building its own EV charging stations and adding its fleet to more cities.
3. Yulu
Established: 2017
Founders: Amit Gupta, Naveen Dachuri, RK Misra, and Hemant Gupta
Headquarters: Bengaluru
What They Do: For first- and last-mile connectivity, Yulu, one of the leading micro-mobility companies, offers shared electric two-wheelers.
Reasons to Watch in 2025:
Magna International’s $82 million funding round and Yulu’s partnership with Bajaj Auto, the manufacturer of Yulu’s e-bikes, are revolutionary. By 2025, Yulu aims to have over 100,000 vehicles on its fleet, and it is quickly growing its operations across big cities.
4. Ola Electric
Established: 2017
Founder: Bhavish Aggarwal
Headquarters: Bengaluru
What They Do: Ola Electric is one of India’s top EV manufacturers, producing innovative battery technologies and electric scooters such as the S1 Pro and S1 Air.
Reasons to Watch in 2025:
Ola Electric is preparing for its first public offering (IPO) in 2025 after raising $384 million in new capital in 2024. As part of a bid to raise local EV battery production, the company is also building a large Gigafactory for cell production under India’s PLI (Production-Linked Incentive) program.
5. Log9 Materials
Established: 2015
Founders: Akshay Singhal
Headquarters: Bengaluru
What They Do: Log9 Materials specializes in advanced battery technologies, specifically fast-charging EV batteries, and alternative energy sources such as aluminum-air batteries.
Reasons to Watch in 2025:
Log9 plans to extend its InstaCharge battery solutions to fleet EVs for commercial use, such as trucks, two-wheelers, and three-wheelers, following a fundraise of $40 million in 2024. To a great extent, the biggest problem with EVs can be solved by their technology, which has the capability to cut charging times by over 80%.
6. Euler Motors
Established: 2018
Founder: Saurav Kumar
Headquarters: New Delhi
What They Do: Euler Motors makes electric last-mile logistics commercial vehicles, predominantly cargo three-wheelers.
Reasons to Watch in 2025:
British International Investment and Blume Ventures were part of the investors who put up $60 million in Euler’s Series C fundraising. The company plans to significantly expand India’s green logistics system by ramping up deliveries of its HiLoad EV to key e-commerce companies by 2025.
7. Bounce Infinity
Established: 2014
Founders: Vivekananda Hallekere, Anil G, and Varun Agni
Headquarters: Bengaluru
What They Do: Starting out as a dockless scooter-sharing company, Bounce shifted its attention to making electric scooters with battery swapping as an important aspect.
Reasons to Watch in 2025:
By 2025, through the introduction of battery-as-a-service (BaaS) models, Bounce Infinity is streamlining and reducing the cost of EV ownership. Its battery switching stations by 2025 will have expanded to offer consumers a faster and more affordable EV experience.
8. River
Established: 2021
Founders: Aravind Mani and Vipin George
Headquarters: Bengaluru
What They Do: River, a newly formed electric two-wheeler company, launched the Indie, a rugged utility scooter designed for challenging urban use.
Reasons to Watch in 2025
River is focusing on manufacturing high-performance, versatile EVs for Indian roads with the backing of Toyota Ventures and Lowercarbon Capital. River plans to expand its manufacturing and retail presence in Tier 1 and Tier 2 cities by 2025.
Investment Trends in Indian Mobility Startups
As per Venture Intelligence, the Indian mobility sector attracted over $2 billion in startup funding in 2024 alone. In 2025, some key investment trends to watch out for are:
Innovations in Batteries and Energy: startup capitalists are keenly interested in startups that focus on energy storage, rapid charging, and battery recycling.
Green Logistics: Companies offering EV-based delivery solutions for e-commerce and logistics companies are being heavily funded by investors.
Shared and Subscription Models: With customers preferring access over ownership, startups offering fleet electrification, rental, and car subscription services are picking up steam.
Government Support: Startups and investors are being supported by initiatives like FAME-II, PLI for ACC (Advanced Chemistry Cell) batteries, and incentives for EV production.
Pioneering venture capital players who are heavily invested in the growth of the mobility sector, including Sequoia Capital India, Tiger Global, Lightspeed Venture Partners, and Blume Ventures, are actively backing initiatives here.
In conclusion
India’s future mobility will be smart, connected, shared, and electric. Startups are leading this transformation with their out-of-the-box ideas, adaptable business models, and customer-centric solutions.
These Indian mobility companies are set to transform the country’s transport system in 2025 and beyond with strong investor support, supportive government policies, and increasing customer adoption. The future wave of innovation has already begun, and these companies are leading the charge, whether it is an electric scooter speeding through city streets, a zero-emission truck delivering cargo, or a game-changing battery technology driving fleets.