EV Startup MOOEV Raises Rs 4 Cr to Launch Electric Trucks in India

MOOEV Technologies has successfully raised Rs 4 crore in seed funding. This funding round was led by Bizdateup, with significant contributions from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office).

Fleet Launch and Infrastructure Development

The new capital injection will drive MOOEV’s ambitious plans to launch an initial fleet of 15 electric heavy-duty trucks, along with establishing high-voltage charging infrastructure to support them, according to the company’s recent announcement.

Founded in 2021 by industry veterans Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, MOOEV is tackling critical challenges associated with the commercial deployment of electric heavy-duty vehicles in India. The startup provides a full-spectrum engineering approach to streamline the transition to electric freight fleets, offering solutions spanning engineering, operational, and fleet management services.

Headquartered in Chennai, MOOEV is already partnering with more than five major corporate groups, aiming to incorporate electric trucks into their logistics networks. This partnership strategy underscores MOOEV’s mission to support the electrification of short-haul transportation across India.

In line with its growth strategy, the company is expanding its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings by enhancing its charging infrastructure to accommodate more vehicles.

The electric truck market in India is on a steep growth trajectory, with projections indicating that the segment will reach between 4,000 to 6,000 units by the end of March 2025. MOOEV's initiatives align with this market expansion, positioning it as a key player in India's shift toward sustainable logistics solutions.

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