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EVeez raises $5.4 Mn in Series A led by Michael & Susan Dell Foundation

Entrackr · 1d ago

Medial

EVeez, an electric mobility-as-a-service (eMaaS) platform, has raised $5.4 million in a Series A funding round 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 company previously raised $994,000 from ah! Ventures and others. The fresh funds will be used to expand its affordable electric two-wheeler subscription service for gig workers, according to a press release from EVeez. Co-founded in 2020 by Abhishek Dwivedi and Gaurav Rathore, EVeez is an electric mobility-as-a-service platform that enables gig workers to access affordable, reliable two-wheeler EVs through a subscription model. The company bridges the gap between mobility and livelihoods, especially for low-income youth entering or growing within India’s gig economy. With weekly subscription plans starting at just Rs. 1,100, EVeez enables individuals—especially those from low-income urban communities—to join platforms in quick commerce, food delivery, e-commerce, and ride-hailing without the upfront burden of vehicle ownership. EVeez says that its model goes beyond rentals: it includes repairs, insurance, battery swap tie-ups, and EV training, helping gig workers focus on earning instead of managing vehicle downtime or debt. 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." According to EVeez, it operates a fleet of 7,000 EVs across 15 cities, with plans to scale to 30 cities and 50,000 vehicles by FY27. Of its current users, 55% are first-time gig workers, and the remaining 45% are transitioning from internal combustion engine (ICE) vehicles. By FY27, it aims to enable over 40,000 new gig workers to join the workforce.