MyPickup, an urban transit services provider and IPV Ideaschool startup, has raised INR 15 million in a seed round led by Inflection Point Ventures. 

The start-up provides a subscription-based electric auto-rickshaw service with a mission to offer zero cancellations and zero surge pricing. The idea is to go beyond just providing convenience, as it addresses urban congestion and pollution challenges in major cities, striving to create a cleaner, more efficient, and reliable transportation ecosystem for all.

Through IPV Ideaschool, startups receive funding, mentorship, and resources to transform their ideas into viable products. The funds will be allocated for development of scheduling algorithms, brand building, and optimisation of operations management.

At scale, MyPickup expects to cater to other use cases like on-demand rides using fleet operators and other vehicle classes, while retaining better control over drivers and vehicles through robust SOPs and training to solve driver problems and maintain customer experience.

Abhijeet Dattatraya Jagtap, Founder and CEO of MyPickup, is an MBA graduate from IIM Calcutta and has worked in various roles across sales, P&L management, and marketing in organisations such as Pharmeasy, Flipkart and Bosch.

Ankur Mittal, Co-Founder, Inflection Point Ventures said, “Urban cities in India share challenges like pollution, high commuting costs, frequent cancellations, and expensive transportation for school children. Recognising these issues, MyPickup offers solutions with real-time tracking for parents, EV vehicles to combat pollution, and zero-cancellation and zero-surge pricing policies. They also plan to develop an automated matching algorithm, install safety features like cameras and SOS systems, offer on-demand services through ONDC platforms, and release an exclusive app for drivers. These initiatives build trust and position MyPickup as a promising startup addressing urban problems.”

At present, the startup operates a fleet of seven electric autos, serving 45 customers. It has achieved a monthly run-rate of INR 1,50,000, facilitating 800 rides per month with a minimal marketing budget, looks to scale by increasing the fleet size and efficiency per vehicle to penetrate large societies/apartment complexes within a few micro markets in a city for office and school rides.

Jagtap said, “As city-dwellers in India face mounting stress from congestion and pollution, MyPickup is dedicated to alleviating these challenges. By offering shared, reliable, and electric commute solutions for officegoers and school children, we are committed to scaling our impact in reducing urban congestion and emissions. Our mission is to provide sustainable mobility options that not only improve daily commutes but also contribute to a cleaner and healthier environment for all."

The start-up estimates that the Indian commute market, encompassing both school and office segments, currently stands at $7.7 billion (INR 641 billion) and is projected to grow at a robust rate of 13 percent year-over-year. Assuming this consistent growth, the market size is estimated to reach approximately $14 billion (INR 1,166 billion). 

JSW MG Motor India is set to expand its EV portfolio with the MG Windsor Pro, which is set to be introduced on 6 May 2025.

The MG Windsor Pro is expected to offer a higher range, more features, improved safety and minor design tweaks. While technical details are yet to be released, it is safe to understand that the company is looking to further drive sales of its popular EV, targeting a new set of customers.

Launched on 11 September 2024, the company positioned the Windsor as a CUV (crossover utility vehicle) and the most comfortable EV in its segment.

The Windsor EV has already surpassed 20,000 units sales since launch, and has been the highest selling electric passenger vehicle for the last several months in a row.

Gujarat-headquartered electric vehicle maker Wardwizard Innovations & Mobility, the maker of ‘Joy e-bike’ and ‘Joy e-rik’ brand, has reported a consolidated net profit of INR 63.6 million for FY2025, maintaining profitability for the fifth consecutive year despite industry headwinds and a 5.1 percent drop in annual revenue.

The company’s total consolidated revenue stood at INR 3.04 billion, down from INR 3.2 billion last year. However, EBITDA rose 13.9 percent YoY to INR 3.6 billion, and EBITDA margins improved by 222 basis points to 12.11 percent, reflecting strong cost discipline and operational efficiency.

Despite a 52.7 percent YoY dip in PAT, largely due to a high base in FY2024, Wardwizard remained in the black – underscoring resilience amid a challenging EV market environment.

Yatin Sanjay Gupte, Chairman & MD, Wardwizard Innovations & Mobility, said, “While annual revenues saw a slight decline, EBITDA rose 14 percent YoY. Our profitable performance, sustained for five consecutive years, sets us apart and reinforces the strength of our strategy.”

In Q4 FY25 (Jan–Mar 2025), the company recorded a 62.2 percent YoY rise in PAT to INR 64.5 million, with EBITDA nearly doubling to INR 1.8 billion. PAT margins for the quarter expanded to 5.91 percent, and EBITDA margins reached 17.26 percent, reflecting improved product mix and cost optimisation.

During the last fiscal, the company deployed over 400 electric two-wheelers across major cities like Kolkata, Pune, and Ahmedabad as well as the launch of L5 electric rickshaws in Maharashtra. Ongoing partnerships and a USD 1.29 billion EV initiative in the Philippines are expected to drive future growth.

“With continued innovation and targeted execution, we are building a stronger foundation for long-term growth,” Gupte added.

OPG Mobility (formerly Okaya EV) has appointed Ajay Dhiman as the new President – Chief Operating Officer (COO) and Chief Technology Officer (CTO) to lead its electric vehicle and EV components business.

In this strategic leadership role, Dhiman will be responsible for operations and technology functions spanning manufacturing, R&D, product development, quality, sourcing, supply chain and business strategy.

He joins OPG Mobility with over 20 years of experience in the automotive and EV sectors. He previously served as Senior Vice-President at Revolt Motors, where he is said to play a key role across CXO-level functions and was instrumental in accelerating product development and delivering high-quality electric mobility solutions. His career includes leadership stints at Honda, Renault-Nissan, Subros and Sonalika Group, contributing across two-wheeler, three-wheeler, and four-wheeler segments.

Anshul Gupta, Managing Director, OPG Mobility, said, “We are delighted to have Ajay Dhiman join our leadership team at a pivotal moment in OPG Mobility's journey. As we step up our presence in the EV ecosystem, Ajay’s deep experience in product development and operations will be invaluable in scaling our EV and components business. His thorough knowledge of both legacy systems and new mobility technologies will drive value, innovation, and faster execution across our transformation journey.”

Ajay Dhiman, added, “It’s an honour to join OPG Mobility at such a transformative time. The brand’s vision of delivering inclusive and innovative electric mobility solutions aligns strongly with my passion for engineering excellence, innovative products and future-focused manufacturing. I look forward to working closely with the leadership and teams to strengthen our product pipeline, accelerate product innovation, strengthen our technological edge, enhance operational excellence, and scale solutions that support India’s evolving mobility needs. We aim to position OPG Mobility as a frontrunner in shaping India’s electric mobility revolution.”

The Maharashtra government has given rolled out the Electric Vehicle Policy 2025 for a period of five years (till 2030) with an estimated outlay of INR 19.93 billion.

The forward-looking policy aims to not only incentivise purchase of electric vehicles, but also aims to boost adoption and real-world usage.

As per the policy, certain EVs plying on highways will be given a toll waiver, EV charging infrastructure strengthened with an ambition have charging facilities every 25km on the national highways.

Electric two-wheelers, three-wheelers, private four-wheelers, state transport corporation buses, private buses and transport undertaking under civic bodies will get concession of 10 percent on purchase of an EV on the original cost. For goods carrying three-wheelers, four-wheelers and electric tractors will be eligible to a concession of 15 percent.

The government has also waived off registration fee on EVs. Lastly, electric four-wheelers and buses will also get toll exemption on Mumbai-Pune Expressway, Atal Setu, Samruddhi Mahamarg, along with 50 percent concession on state and other national highways.

Devendra Fadnavis, Chief Minister of Maharashtra, said, "The state government has approved a new Electric Vehicle (EV) policy, under which passenger EVs will be given subsidies. EV manufacturing and their use should increase in the state."