Electric vehicle startup MOOEV Technologies has successfully raised Rs 4 crore in seed funding, in a round led by Bizdateup with participation from Inflection Point Ventures and Spectrum Impact (Aarti Industries Family Office). This funding will enable MOOEV to deploy an initial fleet of 15 electric heavy-duty trucks, supported by a high-voltage charging infrastructure essential for large-scale fleet operations.
Founded in 2021 by Ennarasu Karunesan, Raghavendra Mysore, and Ramesh Kumar VG, Chennai-based MOOEV Technologies has been dedicated to overcoming the specific challenges in commercializing electric heavy-duty vehicles in India. Through a holistic engineering approach, the company focuses on making the transition to electric trucks feasible for large-scale freight operations, with solutions encompassing vehicle engineering, operational management, and sustainable fleet deployment.
The funds will support MOOEV’s commitment to accelerating EV adoption in short-haul logistics, helping to convert conventional heavy-duty freight fleets to electric. As part of this initiative, MOOEV plans to expand its EV Fleet-as-a-Service (EVFaaS) and EV Charge-as-a-Service (EVCaaS) offerings, which will include an enhanced charging network to support additional electric vehicles. Currently, MOOEV is working with more than five major corporate groups to integrate its electric trucks into their logistics operations, aiming to provide sustainable transportation solutions for India’s growing EV sector.
With the electric truck market in India expected to grow significantly, reaching an estimated 4,000 to 6,000 units by March 2025, MOOEV is well-positioned to capitalize on this shift. The company’s scalable solutions and robust charging infrastructure could play a key role in establishing electric trucks as a sustainable alternative in the heavy-duty freight sector.
