Business News | EVIFY Sets Stone for Expansion Through Its Next Fund Raise
Get latest articles and stories on Business at LatestLY. EVIFY, a tech-braced EV logistics startup, raised $200,000 in a Seed funding round led by We Founder Circle. The round also witnessed participation from an array of esteemed angel investors like Apurva Arora, Jayesh Gulabani and Rajeev Mehta. The company has raised USD 300000 till now through various investors.
Surat (Gujarat) [India], March 23 (ANI/PNN): EVIFY, a tech-braced EV logistics startup, raised USD 200,000 in a Seed funding round led by We Founder Circle. The round also witnessed participation from an array of esteemed angel investors like Apurva Arora, Jayesh Gulabani and Rajeev Mehta. The company has raised USD 300000 till now through various investors.
This investment round's proceeds will primarily be used for the expansion of the company's operations in Ahmedabad. A part of the freshly raised investment will also be directed towards development of a full stack tech platform which would help them to scale in multiple locations, said Pragya Mittal, co-founder and CMO, Evify.
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"This is a great end to fiscal year for the company. We have been working on adding technological advancements into our delivery operations through the use of telematics device to create a tech enabled fleet management system which will revolutionize the unorganized logistics market," said Devrishi Arora, co-founder and CEO, EVIFY.
EVIFY plans to have a fleet of 2000 vehicles deployed successfully in Surat, Ahmedabad, Vadodara and Rajkot by the end of 2024.
Evify is the largest EV fleet service provider in Gujarat and also India's 1st carbon negative EV fleet owner. The company also plans to generate carbon credits in the near future.
Evify solely uses electric vehicles (EVs) for deliveries. Their aim is to decarbonize last-mile deliveries in all the major Tier II cities of India. With this aim, they have been operational in Surat for more than a year now servicing e-commerce behemoths like Swiggy, Zomato, Bluedart, Big Basket, Flipkart and Ecom- Express. Up till Feb 2023, the platform has tracked over 300,000 green deliveries and over 16,66,000 green kilometers.
The company has recently started its operations in Ahmedabad with Big basket and Flipkart. All other clients are in the pipeline with whom the deployment is planned in the coming months.
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