On Tuesday, BillionElectric, an e-Mobility as a Service (eMaaS) platform, announced that it had secured $10 million in funding in a seed round of equity and asset lease funding to enter the domestic market.

HNIs (high net-worth investors) and family offices participated in the funding round. The company said the fresh funds would be used to electric tarmac buses at the Bengaluru international airport and develop a mid-mile heavy EV trucks platform.

Additionally, the company has signed contracts with 10 other airports pan-India, and the funds raised will play a vital role in supporting and accelerating the expansion of operations, it said.

The Gujarat-based startup said it would provide a wide range of services, including electric vehicles, charging infrastructure and commercial electric vehicles, as part of its comprehensive E-MaaS offering. The company has forged strategic partnerships with leading OEMs, while CHARGE+ZONE will reinforce the charging infrastructure.