Evera Cabs Raises $4M to Expand Electric Fleet and Redefine Urban EV Mobility
- Evera Cabs raises $4M from Mufin Green Finance to scale its electric vehicle fleet.
- Acquires 500 EVs from BluSmart, strengthening fleet and driver capacity in Delhi.
- Offers no-surge, no-cancellation EV taxi service, focusing on airport and corporate transit.
Delhi-based all-electric vehicle platform Evera Cabs has raised $4 million in funding from Mufin Green Finance Pvt. Ltd., which will further boost its effort to scale sustainable city transport. The funding, done through a combination of convertible debentures and debt, will be utilized to grow Evera's electric vehicle fleet and build its presence in the B2B and B2C segments.
Evera was founded in 2019 by Vikas Bansal, Rajeev Tiwari, and Nimish Trivedi and is working under Prakriti E-Mobility, developing a clean-energy mobility infrastructure specific to new-age cities. The app-based service of the company is popular for its zero-cancellation and no surge pricing concept, particularly for airport rides from all terminals of Delhi airport.
“Our strategic tie-up with Mufin Green Finance is a major leap in scaling EV-based mobility,” said Nimish Trivedi, Co-founder & CEO. “We’re not just growing we’re deliberately reshaping India's urban electric vehicle narrative with purpose.”
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Its B2B vertical caters to corporates with fleet solutions that are in line with their carbon-reduction objectives. In mid-year, Evera repossessed 500 EVs that had once been operated by BluSmart, following the cessation of BluSmart's operations in many metro cities. The acquisition along with its driver base has increased Evera's fleet capabilities and raised service levels.
“This funding empowers us to double down on reliability and ride experience,” added Trivedi. “With BluSmart’s top-tier fleet now part of Evera, we’re pushing the boundaries of urban green mobility.”
Previously, Evera raised $7.14 million in seed capital from IEG and other investors. With this fresh round, the startup is set to solidify its dominance in Delhi’s EV cab space and explore entry into additional metro markets.
