# Caret Capital leads $2.4 Mn seed round in Milo Drive — retained record

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source: [news](https://highsignal.app/data/news) (news:india-entrackr)  published 2026-07-08 09:39 ingested 2026-07-09 09:32

[original source ↗](https://entrackr.com/snippets/caret-capital-leads-24-mn-seed-round-in-milo-drive-12145426)

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EV mobility platform Milo Drive has raised $2.4 million in a seed funding round led by Caret Capital, with participation from Antler India, Alteria Capital, IAN Capital, Climate Angels, Aureolis Capital, and other investors.
The proceeds will be used to support EV adoption and formalise employment opportunities for India’s driver workforce, Milo Drive said in a press release.
Founded in 2024 by Monil Jayeshkumar Khatri and Vishal Jewrajka, Milo Drive is building an asset light, technology led EV mobility platform for India’s ride hailing and urban transportation ecosystem. The company combines vehicle access, multi platform demand, charging intelligence, operator tools, and data driven automation to help drivers, fleet operators, and mobility entrepreneurs manage EV operations.
The Gurugram based startup claims to have powered more than one million rides since its launch. It uses data intelligence and machine learning led ride assignment to improve vehicle utilisation, driver earnings, and service reliability across demand channels.
According to market research cited by the company, India’s EV ride hailing market is projected to grow from $0.24 billion in 2025 to $4.2 billion by 2030, at a CAGR of 77%.
Milo Drive says its real time operating system provides live fleet visibility across thousands of vehicles, while AI driven charging recommendations, predictive maintenance alerts, and automated geofencing are designed to reduce operational downtime and driver idle time. The company adds that its driver app, which includes payment collections, charging guidance, and earnings tracking, has helped increase driver incomes by 20%.
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