BillionElectric Bags $10 Mn To Address Loopholes In The Indian Commercial Mobility Sector

Emobility startup BillionElectric has raised $10 Mn in a seed round of funding followed by the official launch of the startup. HNI and Family Offices along with the cofounders themselves participated in the funding round. 

The fresh funds will be allocated to deploy electric tarmac buses at the Bengaluru international airport and development of a mid-mile heavy EV trucks platform.

Cofounded by Kartikey Hariyani and Mustafa Wajid, the startup claims to have already signed a contract to extend its services across 10 more airports of India followed by an initial launch in Bengaluru. According to BillionElectric, the funds will support and accelerate its growth. 

BillionElectric is going to offer a comprehensive set of services including electric vehicles, charging infrastructure in collaboration with CHARGE+ZONE, and an integrated emobility platform to ensure seamless operations. 

Additionally, the platform will extend its support to commercial electric vehicles, facilitating zero emissions driven & efficient transportation of goods for large corporations.

Commenting on the launch, cofounder Hariyani said, “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.”

Adding to this, cofounder Wajid said that the startup aims to leverage the paradigm shift in the Indian EV industry and empower intercity logistic companies to thrive in this evolving landscape. 

BillionElectric aims to achieve a billion clean energy miles every year and for the same it has entered strategic partnership with leading OEMs to deliver top-notch vehicles. In addition to this, CHARGE+ZONE will provide the charging infrastructure for BillionElectric’s EV network. 

With this, the startup plans to address the loopholes in the Indian commercial mobility sector such as high running cost of vehicles, limited availability of quality EVs, high cost of switching, lack of charging infrastructure, etc.

However, the Indian EV sector is rising amid the FAME-II controversies. Even with the uncertainties posed by the government policies, startups along with EV giants including Tesla are eyeing India as a potential EV market. 

Recently, the Punjab government announced INR 300 Cr worth of incentives for the startups in the sector, over the next three years to promote the adoption of EVs.

Last month, device agnostic emobility software startup Kazam raised $3.6 Mn to extend offerings to its existing customers through tech innovation and strengthening product teams.