Evera closed Pre-Series A round, raises $7 Mn USD

New Delhi3rd March 2023 – Evera- an EV Cab service provider, has marked the final closure of its pre-Series A funding round at $7 million. The company secured the investments in two tranches, initially led by IEG Investment Banking Group, Germany and later Direct Capital- subsidiary of Devonshire Capital, Thailand & Westova Global, Singapore came together in the closure of this round.

Evera has raised $7 million in total funding till date.

With this investment, the company aims to utilize the added funds to expand its EV cab services across the capital and expand technological advancements.

On the growth, expansion, and investment, Mr. Nimish Trivedi, Co-founder & CEO –Evera, said, “We are privileged to have a strong set of prominent global investors who believe in our mission of building sustainable commutes as it is a pressing need. We have already logged 10 million green kilometers in the Delhi NCR. The current investment will be utilised towards advancement of tech and expand our business to establish a bigger & stronger customer base. “

Mr. Arthit Narula (Partner), Direct Capital- subsidiary of Devonshire Capital commented on the funding and said “Having been a part of Armstrong Asset Management (Singapore) and successfully witnessed its journey, we are excited to invest in sustainable business. Transportation is one of the major reasons for environmental pollution, brands like Evera came with a strong agenda to make the environment pollution free. Cab aggregator is a growing market in India, also trending globally and we are investing in EV cab services which will definitely help us in investing in Greener tomorrow”.

Mr. Parag Solanki, (Partner), Westova Global also expressed his views and said, “Our investment in Evera reflects our view that sustainability and having a green and healthy planet is our priority. With the government introducing new policies and laying out a roadmap for EV firms, we firmly believe that this association will bear fruits that will benefit the masses.”

The company has recently partnered with GMR and started its services from Indra Gandhi International airport in New Delhi with the aim to build a sustainable tomorrow. Last year, Evera also signed the MoU with TATA Motors to increase its fleet size by 2000 EV cars.

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