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Venture Catalysts leads $1 Mn bridge round in BluWheelz

EntrackrEntrackr ยท 1y ago
Venture Catalysts leads $1 Mn bridge round in BluWheelz
Medial

Tech-enabled delivery company BluWheelz has raised $1 million in a bridge funding round led by Venture Catalysts. The round also saw participation from FAAD, LetsVenture, and Chakra Growth Fund. Founded by Apoorva Ranjan Sharma, BluWheelz operates in 18 cities with a fleet solution covering two-wheelers, three-wheelers, and four-wheelers. The startup claims to have a fleet base exceeding 1,200 vehicles, and operations in presence in over 18 cities. It works with vehicle OEMs like Eicher-Volvo and Tata Motors, and has strategic alliances for charging and parking infrastructure. That said, Venture Catalysts invests between $250,000 and $2 million in early-stage startups. The cumulative valuation of the startups invested by Venture Catalysts is over $10 billion.

Logistics startup Pickkup raises $500K in seed round led by We Founder Circle

EntrackrEntrackr ยท 4m ago
Logistics startup Pickkup raises $500K in seed round led by We Founder Circle
Medial

Logistics startup Pickkup raises $500K in seed round led by We Founder Circle Logistic startup Pickkup has raised $500K in a seed funding round led by We Founder Circle (WFC) along with participation from other angel investors. The proceeds will be strategically utilized to expand its electric fleet, enhance the team, and invest in advanced technology to bolster logistics efficiency, Pickkup said in a press release. Co-founded by Ankush Sharma, Chandra Shekhar, and Upma Sharma, Pickkup aims to redefine logistics by deploying a 100% electric fleet, integrating cutting-edge technology to improve delivery efficiency, and actively contributing to decarbonization efforts. With a growing need for eco-friendly logistics solutions, the company intends to create impact in the industry. The Chandigarh-based startup aspires to build a sustainable, tech-driven logistics ecosystem that maximizes fleet utilization while minimizing environmental impact. It looks to optimize cross-utilization of its electric vehicles, ensuring they are operational for the maximum number of hours daily, a move that leverages the low operating costs of EVs for enhanced efficiency and affordability. Established in 2020, We Founder Circle offers mentorship and actively invests in early-stage startups. It invests $250,000-$2 million in early-stage startups that are fueled with ambition, sustainability, and a strategic approach. The VC firm has enabled $50 million worth of investments across over 150 deals. Some of the key investments include category leader companies like BluSmart, Zypp Electric, Kazam, Gauda Aerospace, Pixxel SpaceTech, and Qpi Quantum Computing.

EV startup ALT Mobility raises $10 Mn in Series A

EntrackrEntrackr ยท 7m ago
EV startup ALT Mobility raises $10 Mn in Series A
Medial

Commercial electric vehicle (EV) leasing and asset management company ALT Mobility has secured $10 million in a Series A funding round led by European venture capital firm Eurazeo. The round also witnessed participation from its existing investors Shell Ventures, Twynam Earth Fund, and EV2 Ventures. The Delhi-based company had previously raised $6.45 million from its existing investors. The proceeds will be allocated towards expanding its digital asset management platform, standardizing its battery technology, expanding its fleet to 30,000 vehicles by March 2026, and managing Rs 800 crore in assets under management (AUM) over the next 18 months, ALT Mobility said in a press release. Co-founded in 2021 by Dev Arora, Anuj Gupta, Harsh Dev Goyal, Jay Gupta, and Manas D Arora, ALT Mobility is a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users. It simplifies financing and provides reliable technology that supports the transition of intra-city logistics to electric mobility, reducing carbon footprints and improving profitability. ALT Mobility claims to have a fleet of 10,000 vehicles across 20 Indian cities leased to fleet operators and drivers. The company offers a comprehensive solution, including leasing, servicing, charging, real-time fleet monitoring, and data-driven insights to ensure low total cost of ownership and maximum fleet uptime. ALT Mobility plans to expand its offerings to the driver-cum-owner segment, introducing innovative 'drive-to-own' options and leasing products for four-wheeler light commercial vehicles and cars. It also aims to roll out a Battery-as-a-Service (BaaS) model for second-life vehicles.

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