Milo Drive Raises $2.4 Million for Electric Mobility Platform
Electric mobility startup Milo Drive has secured $2.4 million in seed funding co-led by Caret Capital and Antler. The capital will be used to strengthen its demand network and enhance its technology platform.
Electric mobility startup Milo Drive has raised $2.4 million in seed funding co-led by Caret Capital and Antler. The round also saw participation from Alteria Capital, India Angel Network (IAN) Capital, Climate Angels, and Aureolis Capital.
Founded in 2024, Milo Drive operates a technology platform designed to help electric cab drivers and small fleet owners improve profitability. The platform connects drivers to ride demand, charging infrastructure, and fleet management tools. The company claims to have facilitated over 1 million rides to date.
The fresh capital will be invested in strengthening Milo Drive's multi-channel demand network and expanding its fleet operator base, with a focus on smaller operators. Funds will also support the enhancement of its charging intelligence capabilities and the scaling of its technology platform.
This funding comes as India's electric mobility sector is expanding. Milo Drive aims to build essential infrastructure for the growing EV ecosystem by providing fleet operators with access to vehicles, charging solutions, and demand aggregation.