The cash infusion would be strategically directed for the deployment of electric tarmac buses at Bengaluru International Airport, as well as the creation of a mid-mile heavy EV truck platform.
BillionElectric, an e-MaaS (electric mobility as a service) platform, announced its launch into the domestic market on Tuesday and announced a seed round of funding of $10 million. The capital infusion, in the form of equity and lease money, would be strategically allocated for the deployment of electric tarmac buses at Bengaluru International Airport, as well as the development of a mid-mile heavy EV truck platform, according to a statement from the firm.
Following the initial launch in Bengaluru in partnership with a partner, the company said it has already signed a contract to expand its services to ten additional airports across India.
According to the company, the cash obtained will be critical in sustaining and accelerating the expansion of activities.
“We are pleased to announce the launch of our E-MaaS platform BillionElectric, as well as the successful completion of our seed funding round.” This is our considerable investment over the last two years of product development and software innovation,” said Kartikey Hariyani, cofounder and chief platform architect at BillionElectric.
According to him, the electric mobility business is expected to grow rapidly, reaching a stunning $6 billion by 2024.
BillionElectric stated that as part of its entire E-MaaS offering, it will deliver EVs, charging infrastructure in partnership with CHARGE+ZONE, and an integrated e-mobility platform.
Furthermore, the platform will expand its support to commercial electric vehicles, allowing huge organisations to move goods with zero emissions and efficiency.
“We are committed to spearheading this paradigm shift from molecules to electrons and thereby empowering intercity logistic companies to thrive in this evolving landscape by embracing our E-MaaS platform,” stated Mustafa Wajid, Co-founder and Chief Advisor for Business and Strategy at BillionElectric.
The company stated that it has formed strategic alliances with top OEMs, and that the charging infrastructure will be supplemented by CHARGE+ZONE, which operates a statewide network of charging stations.
