BillionElectric, a startup focused on e-mobility as a service (eMaaS), has successfully raised $10 million in a seed funding round. The leading investor in this round was Urmin Group, and other participants included Blume Ventures, Anthill Ventures, and LetsVenture.
The raised capital will be utilized by BillionElectric for two primary purposes. Firstly, they plan to introduce electric tarmac buses at the Bengaluru international airport. Secondly, the company aims to develop a platform for mid-mile heavy electric trucks. Additionally, BillionElectric has aspirations to expand its operations to other airports and cities across India.
Founded in 2021 by Kartikey Hariyani, Aditya Singh, and Sandeep Jain, BillionElectric offers a comprehensive solution for businesses seeking to adopt electric vehicles. Their platform handles everything from vehicle procurement to charging infrastructure installation.
India’s e-mobility industry is experiencing rapid growth, with the government targeting a 30% electric vehicle sales share by 2030. BillionElectric is poised to leverage this growth, benefiting from its experienced team with backgrounds in the automotive and technology sectors. Moreover, the company boasts a robust network of partners, facilitating its expansion efforts.
Securing $10 million in seed funding is a significant milestone for BillionElectric. This financial boost will accelerate their growth trajectory and enable them to emerge as a prominent player in India’s e-mobility industry.
