Private Equity VC Fund Investments
EV platform MoEVing raises $5-M
Gurugram-based MoEVing – one of the largest full stack electric mobility platforms in the country - has raised USD 5 million via a mix of debt capital and equity from BeyondTeq Ventures, Stride One and N+1 Capital. The new funds will be used to expand the brand's network to 30 cities and develop the technology platform.
The brand offers solutions to e-commerce, FMCGs, D2C firms, and e-grocery stores to help them lower their carbon footprints and optimize their logistics costs. Currently, the company manages over 1,000 electric vehicles (primarily 2- and 3-wheelers) in 14 cities across 9 states of the country.
Company website ↗ (opens in a new tab)
From the Venture Intelligence Angel Investments Database: Between Mar-2021 and Dec-2021, MoEVing had raised over USD 5 M from investors including D.S. Brar (Promoter-Chairman, Aragen Life Sciences), Anshuman Maheshwary (COO, IIFL Wealth and Asset Management), Dr. Srihari Raju Kalidindi (Executive Director & COO Viyash life sciences), D.N. Reddy (Managing partner, Vindhya Group), Ashish Goel (Founder, Urban Ladder), Krishnadeva Veerareddy (Serial Tech Entrepreneur), Vijay Dutt (Founder, Citadel Management Consulting), Govind Agarwal, Chaitanya Kamdar, Subodh Gupta and Mukesh Tiwari.