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Eveez Raises $400k In Its Seed Round

EVeez caters to the mobility needs of the last-mile delivery players, and delivers a tangible profit for its subscribers and many more additional benefits.

EVeez, a Gurgaon Headquartered eMobility-as-a-Service platform, has raised $400k in its first close of the Seed round from ah! Ventures Angel Platform. This is ah! Ventures’ 101st investment (in 80 Startups) taking its total investment portfolio to INR 248 CR (~33 MN USD) with 11 exits and 21 follow on rounds till date. With 38 investments in 2021, ah! Ventures plans to do 40+ investments this year totalling to INR 150+ CR (~20MN USD). 

EVeez caters to the mobility needs of the last-mile delivery players, and delivers a tangible profit for its subscribers and many more additional benefits. EVeez has already demonstrated Product Market Fit with high customer satisfaction and positive Unit Economics. EVeez has achieved an impressive monthly revenue rate of over INR 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. 

EVeez focusses on solving the Electric Vehicle adoption problem by providing a full stack solution to delivery partners and aggregators. The Subscription plan is designed with the Subscriber at its centre, and cutting edge technology as the enabler for enhancing the useful life of the electric vehicle and ensuring the highest possible up-time. The flexible subscription offering removes all entry barriers for gig economy worker to join the last mile delivery workforce, or shift from a petrol based vehicle to an EV. 

EVeez is bringing about a positive environmental change, as well as working towards financial inclusion and livelihood creation for a very large aspirational segment of the Indian population. There is a special focus on gender diversity in the last mile delivery workforce, through partnerships with organisations training women for EV based delivery operations. 

Over the last 2 years, rising fuel prices and increase in demand for delivery of goods and services at home due to pandemic, has unlocked a huge potential for eMobility-as-a-Service segment and EVeez is well poised to take a leadership role, with 10X growth in fleet size. 

“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 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”, stated Abhishek Dwivedi Co-Founder EVeez. 

“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 utilisation, longer fleet life and data led decision making. It’s always a delight working with founders having a great vision and excellent pedigree.”, stated Rishit Parikh, Venture Partner, ah! Ventures.

Source: Business World

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