# Micelio Fund

Micelio Fund is a Private Equity based in Bengaluru, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Bengaluru, India
- **Region:** Asia
- **Address:** Bengaluru, India
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** micelio.com
- **LinkedIn:** https://www.linkedin.com/company/micelio-cleanmobility

## Regulatory record

- **Reports private funds:** No

## About

Micelio Fund is a seed fund enabling innovations in the Clean Mobility sector of India and is the investing arm of Micelio Mobility. Micelio is a Clean Mobility ecosystem entity that brings together startups, MSMEs, corporates, engineers, researchers, academia, and policymakers. The fund is described as currently 12 portfolio companies strong.

## Sectors

- Clean Mobility
- Logistics & Supply Chain
- Automotive

## People

- Shreyas Shibulal — Founder and Director

## Questions

### Who runs investment decisions at 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.

### How does Micelio Fund source deals?

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.

### Does Micelio Fund participate in fund commitments or only direct deals?

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.

### How is Micelio Fund related to Numeros Motors and Entoo?

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.

## Related profiles

- [mic AG](https://altss.com/profile/mic-ag)
- [Michael A. Dubis Financial Planning](https://altss.com/profile/michael-a-dubis-financial-planning)

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Last updated: 2026-08-11T15:07:26.757Z

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