Finvolve & India Accelerator Backs Battwheelz with ₹2 CR Seed Round to Power Sustainable Last-Mile Logistics

Finvolve, the multi-stage VC fund has recently announced its strategic investment in Battwheelz, one of the fastest growing Electric Mobility as a Service (EMAAS) providers, primarily focused on last-mile delivery. The ₹2 CR seed funding round, raised at a valuation of ₹60 CR, also saw participation from other marquee angel investors. The funds will be utilized to expand geo operations in Bengaluru and strengthen EV fleet presence in Chennai and Pune.

Founded in 2022, Battwheelz has successfully launched its operations in Pune, Chennai and Bengaluru. It is recognised as an “EV” centric 3PL provider with a 100% electric fleet size of 450+ vehicles deployed on 3PL logistics. Through this investment, Finvolve is playing a pivotal role in driving its growth in last-mile delivery and 3PL logistics while contributing to building a sustainable logistics ecosystem.

Talking about the investment, Ashish Bhatia, Founder & CEO of IA & Co-Founder of Finvolve said –

Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale. At Finvolve, we believe in backing companies that are shaping industries for the future with innovation and our investment in Battwheelz reflects our commitment to enabling cleaner, smarter and more impactful growth in last-mile delivery.

Elated with the fundraise, Chetan Chaturvedi Founder & MD of Battwheelz said –

We are on a mission to redefine logistics by making it 100% sustainable and efficient. With Finvolve’s support, we are now equipped to accelerate our expansion across India while staying focused on our vision to reduce carbon footprints and build a cleaner future for logistics.

With this investment, Battwheelz is targeting an 80 CR fundraise, aiming for 5x growth in topline by FY25. The company is already closing at ₹80 Lakhs in Monthly Recurring Revenue (MRR) and projects a 7x growth in MRR, while maintaining strong unit economics for sustainable and scalable expansion.set to strengthen its growth trajectory with a major focus on achieving a 5x growth in topline by FY25. The company also projects a 7x growth in Monthly Recurring Revenue (MRR), while maintaining strong unit economics for sustainable and scalable expansion.

Finvolve boasts a vast and diverse investment portfolio that spans across high-potential sectors such as EV & clean mobility, defence-tech, consumer internet, fintech, healthcare and enterprise solutions. Backed by India Accelerator’s multiple investment theses, Finvolve is actively strengthening the Indian startup ecosystem with capital to enable the right mix of innovation, scalability and sustainability.