Milo Drive

Summary active Updated Jul 9, 2026

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Location Gurugram, India
Founded 2023
Latest Stage Seed
Total Raised $2.4M (through Seed, 2026-07-08)
Website https://milodrive.com
Sector
mobility electric-vehicles ride-hailing marketplace transportation climate

Founders

Monil Jayeshkumar Khatri Co-Founder
Vishal Jewrajka Co-Founder

About

Milo Drive is a Gurugram-based electric-vehicle mobility platform serving India’s ride-hailing and urban transportation ecosystem 12. Co-founded by Monil Jayeshkumar Khatri and Vishal Jewrajka, the company operates an asset-light, technology-led model that combines vehicle access, charging intelligence, demand aggregation across ride-hailing channels, and operator tools to improve driver earnings and fleet reliability 13. The platform has powered more than one million rides to date 1.

On 2026-07-08, Milo Drive announced a $2.4M seed round co-led by Caret Capital and Antler, with participation from Alteria Capital, IAN Capital, Climate Angels, and Aureolis Ventures 123. The company said the capital will be used to accelerate EV adoption on its platform and create more formal employment opportunities for India’s driver workforce 2. India’s EV ride-hailing market is projected to grow from $0.24B in 2025 to $4.2B by 2030 2.

Disclaimer: This is a lean profile built from initial round coverage and may be expanded as more information becomes available.

Funding History

Date Round Amount Lead Co-investors
2026-07-08 Seed $2.4M Caret Capital, Antler Alteria Capital, IAN Capital, Climate Angels, Aureolis Ventures 123

What Investors Say

No independently sourced investor quotes found at the time of this round.

What Founders Say

Monil Jayeshkumar Khatri, Co-Founder: “At the heart of Milo Drive is a simple belief: a driver or operator should not be limited by one app, one channel or one uncertain source of income.” 3

Sources

  1. “Mobility startup Milo Drive raises $2.4 million in a seed funding round,” Business Standard, July 8, 2026. Accessed July 9, 2026. https://www.business-standard.com/amp/companies/start-ups/mobility-startup-milo-drive-raises-2-4-million-in-a-seed-funding-round-126070801276_1.html↩↩↩↩↩

  2. “Gurugram-based Milo Drive raises $2.4 million in funding from Caret Capital, Antler India, and other investors,” Indian Startup News, July 8, 2026. Accessed July 9, 2026. https://indianstartupnews.com/funding/gurugram-based-milo-drive-raises-24-million-in-funding-from-caret-capital-antler-india-and-other-investors-12145568↩↩↩↩↩

  3. “Milo Drive secures $2.4 million Seed Round co-led by Caret Capital and Antler,” EVreporter, July 2026. Accessed July 9, 2026. https://evreporter.com/milo-drive-secures-2-4-million-seed-round-co-led-by-caret-capital-and-antler/↩↩↩↩

  4. “Caret Capital leads $2.4 Mn seed round in Milo Drive,” Entrackr, July 2026. Accessed July 9, 2026. https://entrackr.com/snippets/caret-capital-leads-24-mn-seed-round-in-milo-drive-1214542↩