EVeez, a Gurugram-based electric mobility-as-a-service (eMaaS) platform, has raised $5.4 million in Series A funding, aiming to accelerate its mission to provide affordable, sustainable two-wheeler electric vehicle (EV) subscriptions for India’s rapidly growing gig economy. The Michael & Susan Dell Foundation led the round, with participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund.
With this investment, EVeez intends to expand operations across India, strengthen service capabilities, and onboard tens of thousands of new gig workers who seek reliable mobility without the burden of vehicle ownership.
Strategic Vision Rooted in Social Mobility and Sustainability
Founded in 2020 by Abhishek Dwivedi and Gaurav Rathore, EVeez aims to redefine urban transportation for low-income earners. The company offers electric two-wheelers on a weekly subscription basis, starting at just Rs. 1,100, enabling gig workers to participate in food delivery, logistics, and mobility services without the upfront capital needed to purchase vehicles.
EVeez recognized the mobility barrier faced by India’s informal workforce. Instead of burdening workers with loans or maintenance responsibilities, the startup introduced a holistic subscription model that covers insurance, repairs, battery swaps, and even EV operation training.
“We designed EVeez to eliminate the vehicle ownership hurdle for gig workers,” said Abhishek Dwivedi, co-founder and COO. “India’s gig economy is set to cross 20 million workers in the near future. We plan to revolutionize how this workforce accesses clean, reliable mobility.”
Strong Investor Confidence in the eMaaS Model
The latest Series A funding reflects increasing investor confidence in India’s electric vehicle-as-a-service sector, especially when combined with the booming gig economy. The Michael & Susan Dell Foundation, known for backing social impact initiatives, led the round, highlighting EVeez’s alignment with livelihood generation and sustainable development goals.
Other investors such as Caret Capital and Ev2 Ventures bring deep experience in climate-focused innovation and clean mobility, ensuring strategic support beyond capital. Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund added to the funding momentum by recognizing the company’s robust growth model and grassroots impact.
This latest round follows an earlier $994,000 seed funding raised from ah! Ventures and others.
Focus on Scale and Reach
EVeez currently operates a fleet of 7,000 electric two-wheelers across 15 Indian cities, including major urban centers and emerging gig hubs. With the new funding, the company aims to double its city presence to 30 cities and increase fleet size to 50,000 EVs by FY27.
The company also targets the induction of over 40,000 new gig workers into the workforce by that time, specifically focusing on first-time earners from low-income backgrounds.
“Our growth strategy includes partnerships with e-commerce and food delivery platforms, local governments, and EV infrastructure providers,” said Gaurav Rathore, co-founder and CEO. “We want to ensure that any young person in a Tier I, II, or III city can start earning immediately with a sustainable vehicle solution.”
User-Centric Model That Goes Beyond Rentals
Unlike traditional rental companies, EVeez delivers a full-service solution. The subscription covers vehicle maintenance, servicing, and insurance, relieving gig workers from additional operational headaches. Additionally, the company has formed partnerships with battery swapping networks and EV charging stations, ensuring low downtime and higher productivity for users.
EVeez also offers EV training programs for new riders, especially those transitioning from petrol vehicles or entering the workforce for the first time. These programs help users understand EV safety, efficiency, and optimal usage practices, making them more confident and job-ready.
More than 55% of EVeez subscribers are first-time gig workers, and 45% are ICE vehicle users shifting to electric alternatives, reflecting a significant behavioral shift in mobility choices.
Environmental and Economic Impact
EVeez not only improves access to work opportunities but also contributes to lower carbon emissions in congested urban areas. By replacing petrol-powered two-wheelers with electric models, the company plays a key role in reducing urban air pollution, especially in cities struggling with high traffic-related emissions.
Gig platforms such as Zomato, Swiggy, Zepto, and Dunzo increasingly require partners to switch to EVs to meet sustainability targets. EVeez positions itself as the ideal partner for both workers and enterprises aiming for greener last-mile delivery.
With battery swapping tie-ups, users can keep working without worrying about long charging times. These improvements in uptime translate directly to higher earnings for gig workers, boosting their economic resilience.
Industry Context and Future Outlook
India’s electric two-wheeler market continues to grow, fueled by favorable government policies, increasing fuel prices, and rising environmental awareness. Startups like EVeez help accelerate this transition by removing financial and logistical entry barriers for end users.
According to industry estimates, the eMaaS segment in India may reach $5 billion by 2030, with gig workers forming the largest user base. Government schemes such as FAME II, state-level subsidies, and battery swapping policy frameworks create an enabling environment for startups like EVeez to thrive.
Analysts note that affordability and ease of access will determine which platforms succeed in building long-term trust among India’s gig workers.
Commitment to Inclusive Growth
EVeez’s mission extends beyond vehicle provision. The company focuses on livelihood enablement, financial inclusion, and sustainable urban living. By designing a service that caters to the bottom of the pyramid, EVeez reflects a rare combination of impact-first thinking with scalable business operations.
As part of its expansion strategy, the company plans to open city-level support centers, build tech-enabled fleet management, and implement real-time vehicle health monitoring to reduce downtime and ensure customer satisfaction.
Abhishek Dwivedi reaffirmed EVeez’s broader purpose: “We aren’t just building a fleet; we’re building futures. A clean, green, and dignified path to economic participation for everyone.”
Summary of Key Metrics (as of July 2025)
| Metric | Value |
|---|---|
| Total Funds Raised (Series A) | $5.4 million |
| Previous Funding | $994,000 |
| Cities Currently Operating | 15 |
| EV Fleet Size | 7,000 |
| Target by FY27 | 30 cities, 50,000 vehicles |
| Gig Workers Onboarded (Planned) | 40,000+ by FY27 |
| Subscription Starting Price | Rs. 1,100/week |
| Percentage First-Time Gig Workers | 55% |
| ICE-to-EV Transition Users | 45% |
Final Thoughts
EVeez has demonstrated that sustainable mobility and economic inclusion can go hand in hand. By creating a model that meets both livelihood and environmental needs, the company has positioned itself at the center of India’s next wave of electric vehicle adoption. With strong investor backing, a clear expansion roadmap, and a socially driven mission, EVeez is set to transform how gig workers move, earn, and thrive in India’s cities.
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