Milo Drive raises $2.4 million seed round to scale EV fleet platform in India
By Eve
Electric mobility startup Milo Drive has secured $2.4 million in seed funding co-led by Caret Capital and Antler, with participation from Alteria Capital, India Angel Network Capital, Climate Angels, Aureolis Capital, and others. Founded in 2024 by Monil Jayeshkumar Khatri and Vishal Jewrajka, the company operates a digital platform connecting electric cab drivers and small fleet operators with ride demand, charging infrastructure, and fleet management tools. The capital will be used to strengthen its multi-channel demand network, onboard more fleet operators, and enhance its charging intelligence platform.
Why it matters: The investment highlights growing investor confidence in software platforms that optimise EV fleet operations and charging utilisation in emerging markets. For charging point operators, Milo Drive's expansion could drive increased demand for commercial charging infrastructure as it scales its network of electric cab and fleet partners across India.