Michael and Susan Dell Foundation spearhead a $5.4 million Series A funding round for EVeez, with additional contributions from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund.
In an exciting development, EVeez, an Indian electric mobility-as-a-service platform, has announced ambitious plans to expand its operations by 2027, with a focus on the rapidly growing gig economy. The expansion comes after the startup successfully raised $5.4 million in Series A funding, led by the Michael & Susan Dell Foundation [1][2][3].
Currently operating in 15 cities with a fleet of 7,000 electric vehicles, EVeez aims to scale up significantly, increasing its fleet to 50,000 vehicles across 30 cities by fiscal year 2027. This expansion is set to double the platform's city coverage, positioning EVeez as a leading provider of electric mobility services for India's gig economy [1][2][3].
The platform offers electric scooters on a subscription basis, catering to delivery workers, couriers, and other gig workers. The weekly plans, starting at Rs 1,100, cover the vehicle, insurance, repairs, battery swaps, and basic electric vehicle training, providing affordable, reliable, and clean mobility solutions without the burden of large upfront costs [1].
The expansion is timely, given the projected growth of India's gig economy, which is expected to surpass 20 million workers soon. By revolutionising last-mile logistics with scalable, sustainable electric vehicle access tailored to gig workers' needs, EVeez aims to reduce emissions and operational costs for this segment [1].
Abhishek Dwivedi, Co-founder and Chief Operating Officer of EVeez, expressed the company's commitment to revolutionising clean mobility solutions for the gig economy. EVeez was founded in 2020 by Abhishek Dwivedi and Gaurav Rathore [4].
In addition to the Michael & Susan Dell Foundation, other participants in the funding round include Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund [1]. The newly raised funds will be used to expand EVeez's subscription-based electric two-wheeler service for gig economy workers [3].
With its commitment to clean mobility solutions and support for the gig economy, EVeez is set to make a significant impact in the Indian transportation landscape. By 2027, the platform aims to almost sevenfold increase its fleet and double its city coverage, facilitating greener transportation and supporting the livelihood of millions of gig workers [1][2][3].
[1] https://www.yournewswire.com/eveez-expands-electric-mobility-gig-economy/ [2] https://www.techinasia.com/eveez-series-a-funding [3] https://www.dealstreetasia.com/stories/ev-as-a-service-startup-eveez-raises-54-million-in-series-a-round-led-by-michael-susan-dell-foundation-191021/ [4] https://www.crunchbase.com/organization/ev-eez
- The newly raised $5.4 million in Series A funding, led by the Michael & Susan Dell Foundation, will be used to invest in expanding EVeez's subscription-based electric two-wheeler service for the growing gig economy.
- As part of its ambitious expansion plans, EVeez aims to scale up its real-estate presence from operating in 15 cities to 30 cities by 2027, with a fleet of 50,000 electric vehicles, making significant inroads in the technology sector.
- Besides providing affordable, reliable, and clean mobility solutions to gig workers, EVeez, with its focus on electric mobility-as-a-service, is targeting a strategical investment in reducing emissions and operational costs within the gig economy, thus contributing positively to finance and environmental sustainability in India.
