EV Startup MOOEV Technologies Raises Rs 4 Cr Seed Funding

EV startup MOOEV Technologies has raised Rs 4 crore in seed funding, led by Bizdateup with participation from Inflection Point Ventures and Spectrum Impact.

The business intends to use this money to build the necessary charging infrastructure and accelerate the rollout of electric heavy-duty vehicles throughout India to promote sustainable logistics.

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“Though MOOEV Technologies is currently pre-revenue, the deployment of our electric fleet is expected to generate over Rs 70 lakhs in monthly revenue, This investment accelerates our efforts to establish electric heavy-duty transport as a viable and sustainable solution for industrial logistics. Additionally, with Letters of Intent (LOIs) signed for 50 more vehicles, we’re seeing strong market demand for our services, which positions us to scale effectively, contribute to India’s clean energy goals, and build the essential infrastructure to support them”, Raghavendra Mysore, Co-founder & CEO of MOOEV Technologies, said.

The first fleet of 15 electric heavy-duty trucks will be deployed with the help of the additional funding.

About MOOEV Technologies

Founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, MOOEV Technologies Solutions provides a holistic System Engineering approach to solve key challenges of commercializing electrified heavy-duty vehicles in India.

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