Milo Drive Raises $2.4 Million in Seed Funding to Expand Fleet Platform

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EV startup Milo Drive has secured $2.4 million in seed funding to grow its fleet platform, onboard more operators, and strengthen technology supporting India's electric mobility ecosystem.

Electric mobility startup Milo Drive has secured $2.4 million (₹22.9 crore) in seed funding co‑led by Caret Capital and Antler, as it aims to scale its technology platform for India’s expanding electric vehicle fleet ecosystem.

The round also saw participation from Alteria Capital, India Angel Network (IAN) Capital, Climate Angels, Aureolis Capital, and other investors. Founded in 2024 by Monil Jayeshkumar Khatri and Vishal Jewrajka, Milo Drive operates a digital platform tailored for electric cab drivers and small fleet operators, connecting them with ride demand, charging infrastructure, and fleet management tools to enhance utilisation and operational efficiency.

Funding to Support Fleet Expansion

The startup said the newly raised capital will be used to strengthen its multi-channel demand network, onboard more fleet operators, and...

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