Electric vehicle startup MOOEV Technologies has secured Rs 4 crore in seed funding, led by Bizdateup with participation from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office).
The fresh funds will be utilized to deploy an initial fleet of 15 electric heavy-duty trucks. Additionally, MOOEV plans to implement high-voltage charging infrastructure to support this fleet, according to a press release.
Founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, MOOEV offers a comprehensive engineering approach to address key challenges in commercializing electric heavy-duty vehicles in India. The company supports the conversion of heavy-duty freight fleets to electric, offering solutions in engineering, operations, and management to facilitate the sustainable deployment of new fleets for short-haul transportation.
Based in Chennai, MOOEV is currently collaborating with over five major corporate groups interested in integrating its electric truck fleet into their logistics operations. The company also aims to expand its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings by broadening its charging infrastructure to support additional vehicles.
According to market research, the electric truck segment in India is projected to grow to between 4,000 and 6,000 units by the end of March 2025.
