Mobility-tech platform Milo Drive raises $2.4 M led by Caret Capital

Gurugram-based Milo Drive has raised USD 2.4 million in a seed funding round led by Caret Capital. The round saw participation from Antler India, Alteria Capital, IAN Capital, Climate Angels, and Aureolis Capital.Founded in 2024 by Monil Jayeshkumar Khatri and Vishal Jewrajka, Milo Drive provides an asset-light mobility platform for electric vehicles. The company provides a technology layer that integrates vehicle accessibility, demand, charging information, operations, and financial automation for India’s ride-hailing and urban transport ecosystem.The company plans to use the new funds to support EV adoption, formalise employment opportunities, and expand its technology stack. The platform currently uses machine learning to optimise ride assignments, aiming to improve vehicle utilisation and driver earnings.