Electric mobility startup Pluto Mobility has raised $2 Mn (₹18.21 Cr) in a seed funding round led by Version One Ventures, with participation from Grad Capital. Besides, the round also saw participation from angel investors that include executives working with companies like Delhivery, OfBusiness and Pixxel.

Founded in 2024 by Akshat Bhatia and Himanshu Panda, Pluto engineers scooter-sized EVs purpose-built for last-mile delivery. It plans to use the fresh capital to strengthen engineering and product development, expand its team, and prepare for pilot deployments across key urban markets.

It is pertinent to note that the startup is yet to launch its maiden EV product. The scooter-sized vehicle would be fully covered, protecting the driver from harsh weather. It is designed to carry twice as many orders as a typical E2W while retaining manoeuvrability.

The startup aims to begin pilot deployments later in 2026 to tap into ecommerce and quick commerce delivery use cases.

The development comes as India’s last-mile delivery market is expanding significantly. The market is projected toreach $300.5 Bn by 2030, growing at a CAGR of 6.7% from 2024. Meanwhile, the country’s gig and delivery workforce is estimated at 1.2 Cr workers in FY25 and is projected to reach 2.35 Cr by 2030, contributing roughly 1.25%–2.5% to GDP (about ₹2.35 Lakh Cr).

However, there is also a growing rift between delivery partners enabling online deliveries for ecommerce platforms. Gig workers, who have held multiple strikes this year, often flag that delivery targets create pressure and raise accident risks. Despite working full time, gig workers remain classified as independent contractors, leaving them without minimum wages, paid leave, health insurance, accident cover or pensions.

Policy support for delivery professionals is also on the rise. Earlier in January, Blinkit, Zepto, Swiggy Instamart, among ecommerce platforms, scaled back their 10-minute delivery branding after the Centre’s intervention, which came in the wake of a workers’ strike earlier in 2025 where safety and harsh working conditions remained one of the key concerns.

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