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BillionElectric, an e-mobility as a service (e-MaaS) platform, has raised $10 million in a seed round of equity and asset lease funding from high net-worth individuals (HNIs) and family offices based out of India.
The funds will be used to deploy electric tarmac buses at Bengaluru international airport and develop a mid-mile heavy EV truck platform, the company said in a release.
The funds will help expand operations, which includes a contract to increase services to 10 more airports across the country following the initial launch in Bengaluru in collaboration with Veera Vahana.
“Over the last two years of product development and software innovation, this is our significant investment as it serves as a powerful catalyst in our mission to reshape the transportation landscape and offer cutting-edge, cost-effective, and sustainable mobility solutions to businesses and individuals alike,” said Kartikey Hariyani, Co-Founder, Chief Platform Architect, BillionElectric.
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The platform offers services such as electric vehicles, charging infrastructure in collaboration with CHARGE+ZONE, and an integrated e-mobility platform. Additionally, it will support commercial electric vehicles, facilitating zero emissions and efficient transportation of goods for large corporations, the company said.
“At BillionElectric, we are committed to spearheading this paradigm shift from molecules to electrons and thereby empowering intercity logistic companies to thrive in this evolving landscape by embracing our e-MaaS platform. Together, we can accelerate the transition towards a greener, more sustainable future with a mission to deliver One Billion clean energy miles per year,” said Mustafa Wajid, Co-founder and chief advisor for business and strategy, BillionElectric.
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