Funding for All Electric Last Mile Delivery in India
Based out of Navi Mumbai in India, Magenta Mobility has announced $22 million in Series A funding to expand its last-mile delivery services using its fleet of all-electric vehicles. The company currently boasts over 30 customers in the Indian e-commerce and grocery delivery space, including big names like Flipkart, Udaan, and Amazon.
Charging a three-wheel delivery EV, Image sourced from Buick
Founded in 2018, parent company Magenta was initially formed to help develop EV charging infrastructure solutions for the Indian market. But in 2021, the company identified an opportunity to expand and began offering all-electric mobility services in the city of Bengaluru under the Magenta Mobility brand.
Delivery services initially started with last-mile services for e-commerce and grocery delivery companies but soon expanded to include first-mile, mid-mile, and reverse logistic solutions.
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