Premium electric mobility startup Trev Mobility plans to raise $2 million in its upcoming funding round to support fleet expansion, enter new markets, and strengthen its technology and operational capabilities.
The company currently operates 105 premium electric vehicles in India’s driver-driven electric mobility segment and aims to grow its fleet to 300 vehicles by the end of the current financial year.
In the long term, Travel Mobility is targeting a fleet of 2,500 premium EVs by 2031, with plans to expand its presence across major metros and select tier-II cities.
The planned fundraise comes as Treve moves towards PAT positivity at an annual revenue rate of around ₹15 crore. The company has previously raised Rs 3.5 crore from its own customers, including CXOs and frequent users of the service, demonstrating customer confidence in its premium driver-driven EV proposition.
Founded with just two vehicles, Trev has grown its fleet to 105 vehicles, intentionally building a business that sits outside the mass-market ride-hailing segment. The company focuses on premium electric cars and SUVs, professionally managed drivers and a controlled end-to-end customer experience.
Naveen Gupta, Founder of Trave Mobility, said, “We built Trave based on a very clear customer need for a reliable, premium and professionally managed mobility experience. Having grown from two vehicles to over 100, our next step is to take this model to more markets while maintaining the experience that differentiates us. We are looking to raise $2 million to accelerate that journey.”
Trev operates its own driver service rather than following the traditional aggregator model, giving the company more control over the vehicles, drivers, and overall customer experience. Approximately 90% of Trev’s fleet is leased, primarily through finance leases, while the company manages vehicle maintenance. Its fleet currently includes premium electric vehicles from MG and BYD, with the company evaluating additional models as India expands its electric passenger vehicle ecosystem.
Technology is also being used to strengthen security and service continuity. Trev uses AI-enabled cameras to monitor driver behavior, including signs of fatigue, aggressive driving, smoking and seatbelt violations.
Drivers are employed on a fixed salary with incentives, periodic salary increases and insurance benefits, a model designed to improve retention while creating a more consistent driver experience for customers. As part of its next phase of growth, Trev plans to enter Bengaluru, Mumbai and other major metropolitan markets through its own operations. The company is also exploring asset-light and semi-asset-light partnerships that could enable it to scale faster while maintaining control over service standards.
Trav also sees an opportunity in select tier-2 cities, where it intends to maintain its premium positioning rather than compete directly with ride-hailing platforms in the mass market.
Gupta said, “We are not trying to compete for every ride. There is a different segment of customers for whom car quality, driver, safety and overall experience matter significantly. We believe premium electric mobility can become a category, and our focus is on building Trev as a strong player in that space.”
As India’s electric mobility ecosystem evolves, Trev expects the market to become increasingly divided between mass-market ride-hailing platforms, regional EV operators, B2B fleet businesses and specialized premium mobility providers. Trev intends to capture the premium end of this spectrum by combining electric vehicles with a professionally managed driver experience.