EVeez raises $5.4 M Series A funding from Michael & Susan Dell Foundation
The Michael & Susan Dell Foundation led a $5.4 million Series A fundraising round for EVeez, an electric mobility-as-a-service (eMaaS) platform. Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund also participated.
Previously, ah! Ventures and other investors contributed $994,000 to the Gurugram-based business.
According to a news statement from EVeez, the new funding will be utilized to grow their reasonably priced electric two-wheeler subscription service for gig workers.
Abhishek Dwivedi and Gaurav Rathore co-founded EVeez in 2020 as an electric mobility-as-a-service platform that provides gig workers with dependable, reasonably priced two-wheeler EVs via a subscription approach. The company helps low-income youngsters who are new to or expanding in India’s gig economy by bridging the gap between mobility and livelihoods.
EVeez makes it possible for people, particularly those from low-income urban regions, to participate in platforms for ride-hailing, food delivery, e-commerce, and rapid commerce without having to pay for a car up front. Weekly membership plans start at just Rs. 1,100.
In addition to rentals, EVeez claims that its model includes insurance, repairs, battery swap tie-ups, and EV training, allowing gig workers to concentrate on making money rather than handling debt or vehicle downtime.
By FY27, EVeez hopes to expand its fleet to 30 cities and 50,000 vehicles, currently operating 7,000 EVs in 15 cities. Fifty-five percent of its users are new gig workers, and forty-five percent are switching from internal combustion engine (ICE) cars. More than 40,000 new gig workers are expected to be able to enter the workforce by FY27.
