5 days ago
Michael & Susan Dell Foundation Leads USD 5.4 Mn Series A Funding Round in EVeez
Other participants in the round include Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund.
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EVeez, an electric mobility-as-a-service platform, has raised USD 5.4 million in Series A funding led by the Michael and Susan Dell Foundation.
Other participants in the round include Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund. The Gurugram-based startup had earlier secured USD 994,000 in seed funding.
The newly raised funds will be used to expand EVeez's subscription-based electric two-wheeler service tailored for gig economy workers. The startup plans to strengthen its presence in new cities, enhance operational infrastructure, and support more low-income individuals entering the workforce.
"With India projected to have more than 20 million gig workers in the near future, EVeez is strategically positioned to revolutionise how this workforce accesses clean mobility solutions," said Abhishek Dwivedi, Co-founder and Chief Operating Officer. "We are committed to greening the last mile and making electric mobility accessible to everyone participating in the gig economy."
EVeez was founded in 2020 by Abhishek Dwivedi and Gaurav Rathore. It offers electric vehicles on a subscription basis, aiming to reduce entry barriers for gig workers in urban areas. It provides electric scooters bundled with insurance, repair services, battery swaps, and EV training, ensuring users can focus on earnings rather than vehicle maintenance or ownership costs.
Its weekly plans start at an affordable price point, allowing gig workers to serve in sectors such as food delivery, e-commerce, and ride-hailing. Currently operating in 15 cities with a fleet of 7,000 electric vehicles, EVeez plans to expand to 30 cities and scale to 50,000 vehicles by the fiscal year 2027. The platform also aims to help over 40,000 new gig workers enter the workforce within the same timeframe.
