Micelio Fund

Shreyas Shibulal serves as Founder and Director of Micelio Mobility, under which the Micelio Fund operates. The firm has not publicly disclosed a separate investment committee or additional investing partners. Shibulal’s embedded-systems background and hands-on founding of two operating companies, Numeros Motors and Entoo, suggest investment decisions are tightly coupled to his technical and operational lens.

Micelio sources primarily through the community it built — a network of over 100 startups, battery manufacturers, OEMs, fleet operators, and charging-infrastructure companies. The Micelio Discovery Studio, which offers EV testing and validation services in partnership with ARAI, functions as a technical funnel that surfaces startups early in their prototyping phase. This gives the fund a pre-diligence signal long before those companies raise publicly.

Micelio operates as an ecosystem entity with four verticals, of which the Micelio Fund is the capital-deployment arm. It is not structured as a single-family office; it behaves like a hybrid that sits between a sector-focused venture firm and an operating platform. The fund makes discrete equity investments while the Discovery Studio, community events, and knowledge hub serve the broader clean mobility sector.

All publicly described deployment activity points to direct equity investments in early-stage clean mobility startups. The firm has not disclosed any fund-of-funds commitments, LP positions in external venture funds, or secondaries activity. The $20 million seed fund is deployed directly into companies developing technology across the electric-vehicle value chain.

Shreyas Shibulal founded both Numeros Motors, a two-wheeler OEM targeting commercial applications, and Entoo, an all-electric last-mile logistics operator. These are separate operating companies, not portfolio holdings of Micelio Fund. Their existence creates a close operational feedback loop — real-world fleet data and manufacturing experience inform the fund’s view on component-level and infrastructure startups.