BillionElectric, an e-mobility as a service (e-MaaS) platform, has secured US$10 million in a seed round. The funds will be used to deploy electric tarmac buses at the Bengaluru airport and develop a mid-mile heavy trucks electric vehicle platform.
The company has already inked a contract to expand its services to ten additional airports across the country, following the initial launch in Bengaluru in collaboration with Veera Vahana. BillionElectric will also provide charging infrastructure in collaboration with CHARGE+ZONE, and extend its support to commercial electric vehicles as well.
Kartikey Hariyani, Co-founder, Chief Platform Architect, BillionElectric said, “Over the last two years of product development and software innovation, this is our significant investment as it serves as a powerful catalyst in our mission to reshape the transportation landscape and offer cutting-edge, cost-effective, and sustainable mobility solutions to businesses and individuals alike,” further adding that the e-mobility industry is expected to reach US$ 6 billion by 2024.
With this, BillionElectric plans to overcome the challenges in the commercial mobility sector such as the high running cost of vehicles, limited availability of quality EVs, high cost of switching, lack of charging infrastructure, and pan India service by providing a one stop solution to all the hurdles on the platform at a very optimal cost.