Aug 12, 2023

Platform for renting out electric vehicle fleets, in a round of seed funding led by Faad Network, Bluwheelz received $500,000. Lets Venture and other investors also took part in the round. According to a press release from Bluwheelz, the money will be used to expand the company to new areas of the nation, make investments in cutting-edge technology and innovations, improve service options, and further solidify its relationships with various players in the electric mobility ecosystem. Jaspreet Dhingra, Sanjiv Gupta, and Chanpreet Sethi co-founded Bluwheelz in 2022, a company that empowers commercial mobility through convenient and eco-friendly electric vehicle solutions. The start-up has a fleet of a variety of electric cars. In the form of a service model, meeting the needs of business clients engaged in e-commerce, logistics, FMCG, food delivery, pharmaceuticals, durables, urban mobility, and many other industries. According to Bluwheelz, its customer-centric strategy and dedication to sustainability quickly attracted attention and received widespread praise. The business is significantly expanding its electric vehicle fleet and growing its clientele in Delhi/NCR. In a variety of industries and regions, FAAD Network finances early-stage startups. Over 75 startups have received funding from the fund, and 55% of its portfolio companies have received follow-on rounds.