The backing round was led by Germany- grounded IEG Investment Banking Group, Thailand-grounded Direct Capital, and SIngapore’s Westova Global The capital will be utilised for the advancement of tech and to establish a bigger client base, said Evera CEO Evera preliminarily tied-up with TATA Motors to increase its line size by,000 EV buses by 2023- end Delhi- grounded electric vehicle (EV) hack service provider Evera has raised $ 7 Mn in multiple tranches as part of itsPre-Series A backing round, which was led by Germany-grounded IEG Investment Banking Group, Thailand-grounded Direct Capital, and SIngapore’s Westova Global.
While IEG backed the incipiency in the first phase, Direct Capital and Westova Global joined the Pre-Series A round later. The incipiency will use the backing to expand its EV hack service in the public capital. Evera’s co-founder and CEO Nimish Trivedi said that the company will place a big knob of its capital towards branding and will divert backing towards cosmeticizing up the backend of its tech system. It has also so far onboarded commercial guests similar as EY and Orix. The incipiency is also looking to expand its portfolio of B2B guests to pad its earnings. The incipiency last raised $ 135K in 2020 from several angel investors. Evera claims to have stationed 289 taxi cabs so far. It also has 43 charging stations in the region. Late last time, Evera partnered with Delhi International Airport Ltd to start its EV hack services at the field’s Outstation 3.
The company had also partnered with online trip agency MakeMyTrip to help consumers book taxicabs. Last time, Evera also signed a memorandum of understanding with Tata Motors to increase its line size by 2,000 EV four- wheelers. The company presently has 238 EVs in its line and plans to inaugurate all of the buses by the end of 2023. Trivedi said the company doesn’t plan to offer on- demand lift-hailing services and will continue to offer listed taxicabs. For charging its vehicles, he said the company uses both interned charging points as well as public charging structure.