EV Logistics Startup TOCAL Raises Rs 9 Crore Seed Funding Led by XB Group
The funding also marks the beginning of a strategic partnership between TOCAL and K-Indev Logistics to build an integrated logistics platform.
Electric mobility and logistics startup TOCAL has raised ₹9 crore in a seed funding round led by XB Group, the parent company of K-Indev Logistics. The round included an ₹8.5 crore commitment from XB Group, along with participation from Navyug Global Ventures, a family office, and Nivetha Muralidharan, a high-net-worth investor.
The company said it will utilise the fresh capital to expand beyond Bengaluru into major metropolitan cities, establish strategically located fulfilment centres, scale its electric vehicle fleet, strengthen operational infrastructure, enhance its fleet, warehouse and order management technology platforms, and deepen enterprise partnerships and sales efforts.
Founded in 2021 by Dhairyasheel Deshmukh and Hidayathulla Shareef, TOCAL provides a technology-enabled logistics ecosystem built around electric mobility. The Bengaluru-based startup offers EV-powered last-mile delivery, fulfilment infrastructure, fleet management software, and rider enablement services for e-commerce, quick commerce, and direct-to-consumer (D2C) brands.
As part of the strategic collaboration, K-Indev Logistics will contribute its expertise in micro-warehousing, nationwide logistics operations, and enterprise customer relationships, while TOCAL will strengthen the platform through its EV fleet operations, hyperlocal delivery capabilities, driver network, and proprietary technology.
Over the next four to five years, TOCAL plans to expand its operations to more than 15 cities, deploy over 20,000 electric vehicles, establish 75 fulfilment centres, and partner with more than 1,000 brands, as it looks to build a nationwide technology-driven logistics network.
TOCAL operates in India’s rapidly evolving logistics and electric mobility sector alongside companies such as Zypp Electric, Shadowfax, LoadShare Networks, and Fyn Mobility, as demand continues to grow for sustainable last-mile delivery and technology-enabled fulfilment solutions.