Zevo, a tech-enabled EV mobility platform, has raised USD 2 million in a Pre-Series A funding, led by Pegasus India Fund, BizDateUp, JIIF and a family office.
Zevo will use the funds to deploy 5,000 electric vehicles and develop state-of-the-art fulfillment centres across key locations. The company plans to expand its footprint to new cities and strengthen its presence in tier 2 and tier 3 cities.
Zevo is in talks to raise USD 20 million by January 2025. This future investment will further bolster the company's efforts to lead the EV supply chain market and achieve its ambitious growth and sustainability goals to have 2,00,000 electric vehicles on the road by 2030.
Zevo CEO Aditya Singh Ratnu said, "With these funds, we aim to accelerate our growth, enhance our technological capabilities, and expand our reach, ultimately driving the adoption of electric vehicles in India."
"Our focus on deploying advanced technologies and expanding our footprint into tier 2 and tier 3 cities is driven by a commitment to sustainable growth and innovation," Dhruv Bhatia, Co-founder, Zevo, noted.