Venture Catalysts leads $1 million bridge funding round for EV fleet company BluWheelz

Venture Catalysts, integrated incubator and a leader in early-stage investments, on Monday announced its participation in the $1 million bridge funding round for BluWheelz, a tech-enabled delivery company revolutionizing logistics with an electric vehicle (EV) fleet. The round also saw participation from investors including FAAD, LetsVenture, and Chakra Growth Fund.

BluWheelz addresses cost and timeline challenges for e-commerce, quick commerce, and food tech industries while prioritizing environmental impact. It operates in 18 cities with a comprehensive fleet solution covering 2-wheelers, 3-wheelers, and 4-wheelers, and has plans to integrate 6-wheelers as well.

Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder, and Managing Director of Venture Catalysts, stated, “We are delighted to support BluWheelz in their mission to redefine logistics through sustainable mobility solutions. Their innovative approach, combining cutting-edge technology with a commitment to environmental responsibility, aligns perfectly with our investment philosophy. BluWheelz's impressive growth trajectory, strategic partnerships, and visionary leadership position them as frontrunners in the rapidly evolving EV market. We are confident in their ability to drive transformative change and look forward to being a part of their success story.”

Since its establishment in January 2023, BluWheelz has expanded its fleet beyond 1,200 vehicles, with operations in over 18 cities, and a customer base serving over 40 billable clients across various sectors. The leadership includes Sanjiv Gupta, former CEO of Coca-Cola India and Spicejet Cargo, and a team of industry veterans incentivized with ESOPs.

Talking about the development, Sanjiv Gupta, Founder and Chairman of BluWheelz, said, “In every venture I've embarked upon, from revolutionizing the beverage industry to elevating India's cargo airline sector, the constant has been a relentless pursuit of excellence and a transformative vision. Today, as Bluwheelz secures pivotal funding, we are on the cusp of seizing a greater share of the EV market. “This is more than an expansion; it's a commitment to redefine mobility and logistics through sustainability and innovation. We stand at the forefront, ready to steer the electric revolution in logistics, building not just a company, but an ecosystem that propels us towards a future where progress and the planet move forward together.”

BluWheelz has partnerships with major vehicle OEMs like Eicher-Volvo and Tata Motors, and a low-cost, high-impact franchise model, comprehensive technology integration, and strategic alliances for charging and parking infrastructure. 

CP Sethi, CEO of BluWheelz, said, “With the successful completion of our latest funding round, Bluwheelz is poised to cement its dominance in the mid-mile EV segment. This is a strategic leap towards our goal of expanding our electric fleet with the introduction of cutting-edge 4-wheelers and 6-wheelers, in collaboration with leading OEMs. Our unwavering focus remains on bridging the gap between technological innovation and practical urban logistics solutions, as we gear up to meet the burgeoning demand for eco-efficient fleet services. Together with our partners, we're driving the future of delivery – cleaner, smarter, and further.”