Evera, a Delhi-based electric vehicle (EV) cab service provider, has raised $7 Mn in several tranches as part of its Pre-Series A funding round. IEG Investment Banking Group from Germany, Direct Capital from Thailand, and Westova Global from Singapore led the round. IEG initially provided startup funding, but Direct Capital and Westova Global later joined the Pre-Series A round. The startup will use the money to increase the number of EV cabs it offers in the capital.
Nimish Trivedi, co-founder and CEO of Evera, told the media that the company will spend a significant amount of money on branding and divert money to improving the technical system’s back end. In order to streamline its operations, the company will also use the funds to integrate its backend with business-to-business (B2B) clients.
“We are privileged to have a strong set of prominent global investors who believe in our mission of building sustainable commutes as it is a pressing need. We have already logged 10 million green kilometers in the Delhi-NCR region. The current investment will be utilized towards the advancement of tech and expansion of our business to establish a bigger & stronger customer base,” Trivedi added.
“Transportation is one of the major causes of environmental pollution, and brands like Evera come with a strong agenda to make the environment pollution-free,” said Arthit Narula, a partner at Direct Capital. We are investing in EV cab services because the market for cab aggregators is expanding in India and is currently popular around the world.
Founded in 2019 by Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal, Evera is a homegrown all-electric cab service provider that caters to customers across B2C and B2B segments. The company recently partnered with GMR and began commencing its services from IGI Airport. It has also so far onboarded corporate clients such as EY and Orix. The startup is also looking to expand its portfolio of B2B clients to pad its revenues.
