Private Equity

PE-VC Fund Investments

E-bikes rental service provider EVeez raises $5.4 M led by MSDF

Business Standard   EVeez   EVeez  

Gurugram-based electric mobility-as-a-service (eMaaS) platform EVeez has raised USD 5.4 million in Series A funding round led by the Michael & Susan Dell Foundation. The round also saw participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures and ah! Ventures Fund.The new funds will be used to expand the firm’s electric two-wheeler subscription service for gig workers.Founded in 2019 by Gaurav Rathore and Abhishek Dwivedi, EVeez offers gig workers access to electric two-wheelers to enable them work in quick commerce, food delivery, e-commerce, and ride-hailing firms through a subscription model. Currently, EVeez operates a fleet of 7,000 electric vehicles (EVs) across 15 cities, with plans to scale to 30 cities and 50,000 vehicles by FY27.

In Oct 2022, Eveez had attracted about USD 1 M from Ev2 Ventures and others.For FY24, Eveez had reported about INR 20 Cr in Operating Income and about INR 0.01 Cr in Net Loss.