Funding · Commerce & Consumer Brands

Wheelocity raises over ₹82 crore in Series A2 funding

What they do

Wheelocity operates a hybrid online-offline model using branded electric carts to sell goods directly in villages

The company raised more than ₹82 crore from investors including Elevar Equity and Lightspeed India Partners III LLC

Funds will expand Bharat-focused channels, supply chain ops, tech infrastructure, and last-mile delivery

Wheelocity has raised >₹82 Cr in an ongoing funding round.
This brings the total raised to ₹82.36 Cr across three tranches according to MCA filings.
All-time funding now exceeds $35 Mn globally.
Earlier Series A2 in 2024 raised $15 Mn (~₹126.5 Cr).
Elevar Equity invested ₹54.99 Cr in the June tranche via trustee Vistra ITCL.
Lightspeed India Partners III LLC and others invested ₹16.32 Cr in the first tranche.
Individuals and entities including VML Karthikeyan invested ₹11.05 Cr in March.
Founders Selvam VMS and Senthil Kumar A participated in this round.

India's ecommerce market is projected to grow from $165 Bn (2026) to $450 Bn (2032).
The company targets the underserved rural market with a phygital approach.
It serves over 5 Lakh households across 3,300 villages.

Wheelocity uses a phygital commerce model combining online and offline sales.
It deploys branded electric carts for mobile retail in villages.
The supply chain is zero-inventory with direct farmer sourcing.
Products reach local hubs and are sold within <24h post-harvest.
Tech stack includes AI demand forecasting and route optimisation.
Logistics rely on EV-powered last-mile delivery.
The fleet covers >1 Lakh km daily.
It employs >1,500 rural workers.
The company pivoted from B2B supply chain to consumer-facing in Oct 2023.

Elevar Equity (lead) — AIF investing via trustee Vistra ITCL (India) Limited.
Lightspeed India Partners III LLC (co-lead) — Investment fund participating in the first tranche.