Taxi service provider Evera Cabs raised $4 M funding from Mufin Green Finance
Evera Cabs, a taxi service, has obtained $4 million in funding from Mufin Green Finance using a hybrid structure that includes debt and convertible debentures.
IEG and other investors had previously contributed $7.14 million to the Delhi-based company’s seed round. According to a press release from Evera Cabs, the money will be utilized to increase the number of electric vehicles in its fleet.
Evera Cabs, which was co-founded in 2019 by Vikas Bansal, Rajeev Tiwari, and Nimish Trivedi, provides a comfortable, safe, and environmentally friendly transportation experience via an app-based platform. The business is a member of Prakriti E-Mobility, an organization dedicated to sustainable energy solutions.
With a no-cancellation and no-surge policy to guarantee convenience and dependability, Evera’s B2C operations are strategically focused on airport-centric travel, while its B2B operations cater to a diverse range of corporate clients. The company encourages consumers to make environmentally friendly decisions in an effort to lower carbon emissions and raise the standard of daily commuting.
“At Evera, our core focus has always been delivering a clean-tech-powered, seamless, and disruption-free commuting experience,” said Nimish Trivedi, co-founder and CEO.
After BluSmart suspended operations in several major metro areas, Evera began reclaiming 500 of the company’s electric taxis in May. At the time, the business declared its intention to expand its airport network even more, offering services in all of Delhi’s airport terminals.
