Bluwheelz Raises $500,000 In Seed Funding The funding will also enable Bluwheelz to invest in advanced technology and innovations, enhance its service offerings, and further strengthen its partnerships with various stakeholders in the electric mobility ecosystem
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
EV fleet-as-a-service company, Bluwheelz, has raised $500,000 in Seed funding from early-stage fund, Faad Network. The funding round also saw strong participation from Lets Venture, as well as from a group of High-Net-Worth Individuals (HNIs), a family office, and marquee angel investors from both India and the United States.
According to an official statement, with this new capital infusion, Bluwheelz is poised to continue its expansion into other parts of the country over the next six months. It added, this funding will also enable Bluwheelz to invest in advanced technology and innovations, enhance its service offerings, and further strengthen its partnerships with various stakeholders in the electric mobility ecosystem.
"We are ecstatic to have raised this seed funding with the support. 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," said Chanpreet Singh Sethi, co-founder and CEO, Bluwheelz.
Committed to sustainability, Bluwheelz said it 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.
"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.
FAAD Network is a CAT-1 SEBI registered AIF that invests in early-stage startups across various sectors and geographies.
