Milo Drive Secures $2.4 Million in Seed Funding for EV Mobility Platform
Milo Drive, based in Gurugram, raised $2.4 million in seed funding to enhance its tech-driven electric vehicle mobility solutions. This investment aims to address the low EV penetration in India's ride-hailing market by providing a platform that supports both drivers and fleet operators.
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Milo Drive has successfully secured $2.4 million in seed funding, led by Caret Capital with contributions from Antler India, Alteria Capital, and others. Founded in 2024 by Monil Jayeshkumar Khatri and Vishal Jewrajka, the company focuses on creating an asset-light EV mobility platform tailored for India's urban transport sector.
The platform integrates vehicle access, multi-platform demand, and data-driven automation to enhance operational efficiency for drivers and operators. With current EV penetration in cab fleets below 5%, Milo Drive aims to provide the necessary infrastructure for sustainable growth in the mobility economy. This initiative could significantly impact the potential for electric vehicle adoption in India’s transportation sector.
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