Electric mobility startup EVeez has secured $5.4 million (approximately INR 46.6 crore) in a Series A funding round led by the Michael & Susan Dell Foundation. The round also saw backing from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund.
In a statement, the company announced that the capital will be used to expand its electric two-wheeler subscription services, with a particular focus on gig economy workers.
Founded in 2019 by Abhishek Dwivedi and Gaurav Rathore, EVeez offers a mobility-as-a-service platform that provides access to two-wheeler EVs through a weekly subscription model, starting at INR 1,100. The service is designed to support individuals from low-income urban communities entering sectors like quick commerce, food delivery, ride-hailing, and ecommerce.
The platform includes more than just vehicle rentals—EVeez also offers insurance, repair services, EV training, and battery swap partnerships, streamlining EV usage for gig workers. The startup currently operates a fleet of 7,000 electric vehicles across 15 cities, with plans to scale up to 50,000 vehicles in 30 cities by FY27.
The company claims that 55% of its users are first-time gig workers, while 45% are shifting from internal combustion engine (ICE) vehicles to EVs. EVeez says its model addresses several key challenges to EV adoption, including upfront costs, maintenance, and lack of financing options.
By FY27, EVeez aims to help enable over 40,000 new gig workers to enter the workforce through its platform.
The surge in EV adoption is being driven by both environmental awareness and operational cost benefits, especially in sectors like last-mile delivery. As ecommerce, quick commerce, and food delivery platforms grow, two-wheeler EVs are becoming the preferred mode of transport for gig workers. Startups like Yulu and Zypp Electric are also active in this space.
India’s electric vehicle market, bolstered by demand from both gig workers and general consumers, is expected to grow into a $132 billion opportunity by 2030.
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