Indian startup EVeez raises $5.4 million in funding led by Michael & Susan Dell Foundation

EVeez, an electric mobility-as-a-service platform, has raised $5.4 million in a Series A funding round to grow its electric two-wheeler subscription service catering to India’s growing gig economy.

The round was led by the Michael & Susan Dell Foundation, with participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures and ah! Ventures Fund. The Gurugram-based startup had previously raised nearly $1 million in seed funding.

Founded in 2020 by Abhishek Dwivedi and Gaurav Rathore, EVeez provides electric scooters on a subscription basis to delivery workers, couriers and other gig laborers. The weekly plans, starting at Rs 1,100, include not just the vehicle but also insurance, repairs, battery swaps and basic EV training.

The startup claims that it currently operates 7,000 vehicles across 15 Indian cities. With the new capital, it aims to expand to 30 cities and grow its fleet to 50,000 by fiscal year 2027.

Abhishek Dwivedi, co-founder and COO of EVeez, added, "With India projected to have more than 20 million gig workers in the near future, EVeez is strategically positioned to revolutionize how this workforce accesses clean mobility solutions. We are committed to greening the last mile and making electric mobility accessible to everyone participating in the gig economy."

More than half of the startup's current users are first-time gig workers, while the rest are transitioning from internal combustion engine (ICE) vehicles. According to EVeez, these workers have seen higher take-home incomes as EVs reduce fuel and maintenance costs.

By fiscal year 2027, the startup expects to enable over 40,000 new gig workers to join the workforce.

The funding comes as India’s urban delivery landscape rapidly electrifies. Gig workers for platforms such as Swiggy, Zomato and Blinkit are increasingly turning to electric two-wheelers for their affordability and ease of maintenance. Subscription-based access models like EVeez’s are emerging as a bridge for workers from low-income backgrounds to plug into these opportunities without debt or delays.

Prachi Windlass, who leads the India portfolio at the Michael & Susan Dell Foundation, said, "EVeez is opening the door to India’s booming delivery and gig work market for thousands of young people. With a low‑cost subscription model, increased earning potential, and practical benefits like insurance, it’s giving gig workers more control over how, when, and how much they earn, and creating real opportunities for independent work."