eMobility platform EVeez raises $400K in a Seed round led by ah! Ventures

Gurugram-based eMobility service platform EVeez has raised $400,000 in a Seed funding round led by Ah! Ventures angel platform.

This is Ah! Ventures 101st investment in 80 startups, taking its total investment portfolio to Rs 248 crore with a total of 11 exits and 21 follow-on rounds to date. With 38 investments in 2021, ah! Ventures plan to do 40+ investments this year totaling more than Rs 150 crore.

EVeez, a proprietary brand of TravelTech Experiences Pvt. Ltd., provides electric vehicles on subscription for commute, delivery services, in-campus mobility. The startup caters to the mobility needs of the last-mile delivery players, and delivers a tangible profit for its subscribers and many more additional benefits.

The startup claims that it has achieved an impressive monthly revenue rate of over Rs 10 lakhs in the last 18 months in a very capital efficient manner from its operations in Delhi/NCR, Hyderabad, & Kolkata, and is now all set to expand its eMobility Subscription service to 6 new cities in the next 6 months with 5X revenue. 

The Gurugram-based firm focuses on solving the Electric Vehicle adoption problem by providing a full-stack solution to delivery partners and aggregators. 

Their subscription plan is designed with the Subscriber at its center and cutting-edge technology as the enabler for enhancing the useful life of the electric vehicle and ensuring the highest possible up-time.

Apart from this, Their flexible subscription offering removes all the entry barriers for gig economy workers to join the last mile delivery workforce, or shift from a petrol-based vehicle to an EV.

“We believe in the transformational change that a shift to EVs can bring and innovating to remove all barriers to speed up this change”, said Gaurav Rathore, Co-Founder of EVeez.

“We plan to scale up our operations and unlock operational efficiencies and economies of scale. This will give our subscribers better experience and improve unit economics for us”, said Abhishek Dwivedi, Co-Founder of EVeez.

Speaking on the investment, Rishit Parikh, Venture Partner, ah! Ventures said:

“Eveez is at the intersection of three of the most influential spaces in today’s sustainability-driven ecosystem, namely Mobility-as-a-Service, Electric Vehicles, and Logistics. They are set to become India’s largest EV Subscription Platform, for EV 2-Wheelers, offering a complete mobility solution, whilst being asset-light. EVeez is leveraging state-of-the-art technology to monitor and control its e-bikes, ensuring higher utilization, longer fleet life, and data-led decision making. It’s always a delight working with founders having a great vision and excellent pedigree.”

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