Electric mobility startup EVeez has secured $5.4 million in Series A funding to broaden access to electric vehicles for India’s growing gig workforce. The funding 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.
Founded in 2020, EVeez provides electric two-wheelers through a subscription model, primarily targeting delivery agents, gig workers, and fleet operators. The company currently operates a fleet of 7,000 EVs across 15 cities in India.
Expansion Plans Underway
With the newly raised capital, EVeez aims to expand operations to 30 cities and scale its fleet to 50,000 electric vehicles by FY27. The company estimates that this expansion will enable more than 40,000 gig workers to adopt clean and affordable mobility solutions.
“Our goal is to democratise access to electric mobility,” said Abhishek Dwivedi, co-founder and COO of EVeez. “This investment will allow us to scale significantly and empower India’s gig economy workforce with sustainable transport solutions.”
Affordable, All-Inclusive EV Subscriptions
EVeez offers subscription plans starting at ₹1,100 per week, inclusive of vehicle insurance, maintenance, battery swapping, and rider training. Gig workers, often priced out of traditional vehicle ownership, can alleviate their financial and operational burdens with this model.
“EVeez is playing a pivotal role in India’s mobility landscape,” said Prachi Windlass, Director at the Michael & Susan Dell Foundation. “By making electric vehicles affordable and accessible, they are creating a pathway to financial independence and sustainability for gig workers.”
Aligning with India’s EV Push
India’s electric vehicle adoption is gaining momentum, especially in urban logistics and delivery services. With over 20 million gig workers projected in the coming years, demand for sustainable and cost-effective transportation is rising.
EVeez’s capital infusion comes at a time when the government is also pushing for electrification in the last-mile delivery and logistics sectors, with policy support and battery-swapping infrastructure gaining ground.
Outlook
By addressing key challenges such as affordability, charging access, and operational support, EVeez aims to be a leader in the electric mobility-as-a-service (eMaaS) space.
The company’s vision aligns with national clean mobility goals and could serve as a scalable model for inclusive, climate-friendly transportation in emerging markets.