Faad Network, India’s leading early-stage fund, has led the seed funding round of 500,000 USD for Bluwheelz, India’s pioneering EV fleet-as-a-service company. The funding round saw strong participation from Lets Venture, as well as from an esteemed group of High-Net-Worth Individuals (HNIs), a prominent family office, and marquee angel investors from both India and the United States.
With this new capital infusion, Bluwheelz is poised to continue its expansion into other parts of the country over the next six months. The company is already actively exploring opportunities to serve new cities and regions, and with the backing of strategic investors, Bluwheelz aims to create a network of eco-friendly EV fleets for commercial mobility.
“Bluwheelz is changing the world by reducing pollution levels and solving for low adoption of commercial EVs. This is in line with our endearing vision to support enterprising ideas which are disrupting existing markets with technology intervention and driving massive consumption.” said, Aditya Arora, CEO, FAAD Network.
“We are ecstatic to have raised this seed funding with the support of visionary investors such as FAAD and Lets Venture, as well as several distinguished HNIs and Angel Investors,” said Mr. Chanpreet Singh Sethi, Co-Founder and CEO of Bluwheelz. “This infusion of capital will be instrumental in accelerating our mission to bring clean and sustainable mobility solutions to urban areas across the country. Our commitment to reducing carbon footprints while providing superior mobility services remains unwavering.”
Since its inception, Bluwheelz has made remarkable strides, revolutionizing the way people perceive and embrace electric mobility. By providing a comprehensive fleet of eco-friendly commercial electric vehicles on a FAAS (FleetAs A Service Model), Bluwheelz has rapidly gained traction and widespread acclaim for its customer-centric approach and commitment to sustainability. In the past six months alone, Bluwheelz has achieved unparalleled growth, significantly increasing its fleet of electric vehicles and expanding its client base in Delhi/NCR.
About FAAD Network
FAAD Network is a CAT-1 SEBI registered AIF that invests in early-stage startups across various sectors & geographies. With 2000+ Angels, HNIs, and VCs, FAAD has invested in over 75+ startups, with follow-on rounds in more than 55% of its portfolio companies. FAAD enjoys a network of investors based in India, Singapore, Dubai, the US, the UK, and Canada. The network supports early-stage technology companies.
Bluwheelz is India’s leading EV Fleet as a Service provider, revolutionizing commercial mobility with its eco-friendly and convenient electric vehicle solutions. Committed to sustainability, Bluwheelz offers a wide range of electric vehicles on a Fleet As A Service Model, catering to the requirements of corporate clients operating in the domain of E-Commerce, Logistics, FMCG, Food Delivery, Pharma, Durables, Urban Mobility and many more. By providing top-notch services and contributing to a greener tomorrow, Bluwheelz is pioneering the future of commercial mobility.