[Funding alert] EVeez raises funding from Ev2 Ventures, others

As part of its seed round, Gurugram-based e-mobility-as-a-service firm EVeez raised an undisclosed sum from investors lead by Ev2 Ventures (Ev2) in order to expand both technologically and geographically. ah! Ventures' angel platform also took part in the fundraising round.

Gaurav Rathore and Abhishek Dwivedi founded EVeez in 2020 with the goal of electrifying the Indian transportation industry.

According to EVeez, its monthly growth averages above 15%. It is present in Delhi-NCR, Hyderabad, Kolkata, and Bengaluru, with intentions to shortly spread to 12 other cities.

Read also - [Funding alert] Autify Network Raises $1.5 mn Pre-Seed Round Led by Loop Ventures

“The funding will be used towards strengthening the tech platform, building data analytics capabilities, research & development, cities expansion and piloting new business models for supercharged growth”, Gaurav Rathore, CEO and Co-Founder said.

With partnerships with industry leaders in e-commerce, 3PL, transportation, and last-mile delivery like Swiggy, Xpressbees, Uber Moto, Zomato, Zepto, and Shadowfax, EVeez is outfitted with cutting-edge IoT devices that offer users extensive usage statistics and insightful information.

Karan Mittal, Partner, Ev2 Ventures, speaking on the Investment, said: “We were extremely impressed by Eveez in-house capabilities to deploy and maintain two-wheeler electric vehicles across multiple cities in India, while retaining a utilization rate of more than 95%. Additionally, by replacing ICE vehicles with electric vehicles to target the gig economy helps in reducing the carbon footprint, and at the same time, increases the riders’ earning capacity, which fits right into Ev2’s Impact thesis”

Read also - [Funding alert] D2C Startup Beco Raises $3 mn in Funding

About EVeez

EVeez is a proprietary brand of TravelTech Experiences Pvt. Ltd., one of the pioneers in Electric Vehicle subscription ecosystems in India. Travel tech is an Initiative of a team lead by some very sensitive and passionate individuals who are driven by technology and sustainable lifestyle.