Pluto Mobility, a Delhi-based electric mobility venture focused on last-mile logistics, has raised $2 million in a seed round led by Version One Ventures, with participation from Grad Capital. The funding round also drew backing from founders and senior leaders associated with companies such as Delhivery, OfBusiness, Pixxel and Boom Supersonic.
Founded by Akshat Bhatia and Himanshu Panda, the company is developing electric vehicles engineered specifically for India’s demanding last-mile delivery environment. The fresh capital will be deployed to enhance engineering and product development, scale the core team, and initiate pilot programmes in major urban centres.
Pluto Mobility has designed a compact, scooter-sized delivery vehicle featuring a fully enclosed structure for all-weather operations. The vehicle is built to transport up to twice the number of orders compared to a conventional two-wheeler, without compromising manoeuvrability. By rethinking vehicle architecture from first principles and aligning it with real-world delivery workflows, the start-up aims to improve throughput and operational dependability for logistics operators while maintaining cost efficiency.
Currently, most last-mile fleets rely on two-wheelers originally intended for personal transportation. This often results in overloading, safety trade-offs, or the use of larger vehicles that struggle in congested city settings. Pluto Mobility seeks to address this structural gap with a purpose-designed electric platform capable of supporting high-frequency, multi-drop operations while retaining the agility of a standard two-wheeler.
Akshat Bhatia, CEO of Pluto Mobility, said the core issue in India’s last-mile ecosystem lies in the mismatch between delivery workloads and vehicle design, which limits efficiency and impacts unit economics at scale. Boris Wertz, Founding Partner at Version One Ventures, noted that the company’s differentiated approach focuses on throughput optimisation and operational reliability rather than incremental modifications. Pilot deployments are scheduled to begin later in 2026, targeting e-commerce and quick-commerce delivery segments.
Pluto Mobility develops compact electric vehicles tailored for last-mile delivery, enabling higher order capacity per trip and improved cost efficiency. In addition to manufacturing its vehicles, the company operates them in-house to provide delivery services to partner brands.
