Electric vehicle startup MOOEV Technologies has raised Rs 4 crore in seed funding, led by Bizdateup with additional investments from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office).
The funds will support the launch of MOOEV’s initial fleet of 15 electric heavy-duty trucks and establish high-voltage charging stations to support these vehicles.
About MOOEV Technologies:
Founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, Chennai-based MOOEV Technologies focuses on advancing electric solutions for heavy-duty freight vehicles in India.
The company aids businesses in transitioning their fleets from gas to electric power, providing engineering, operational, and management support to help companies adopt sustainable practices for short-distance logistics.
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MOOEV is currently collaborating with over five major corporate partners interested in incorporating its electric truck fleet into their logistics networks.
The startup also plans to expand its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings to develop the necessary infrastructure for supporting a larger fleet.
According to recent research, India’s electric truck sector is projected to reach between 4,000 and 6,000 units by March 2025, highlighting growth potential in this emerging market. With its new funding, MOOEV aims to position itself as a key player in this expanding sector, contributing to sustainable logistics solutions.
