PC: EV Tech News
A significant fillip in the Indian electric vehicle landscape comes in the form of a recently achieved Pre-Series A funding round amounting to $2 million by ZEVO, an innovative tech-enabled EV mobility platform. This has been led by the Pegasus India Fund, BizDateUp, JIIF, and a family office. With this funding, ZEVO looks to revolutionize logistics and supply chain operations through sustainable mobility solutions. With a capital injection of over Rs 16 crore, the company will aim to achieve that much-needed goal with this transformation of the logistics industry of India into a more environmentally conscious and efficient means of transportation.
High on the agenda for funding are the deployment of 5,000 electric vehicles and cutting-edge fulfillment centers in strategic locations across the nation. ZEVO is focusing on tier 2 and tier 3 cities, where it sees a growing demand for sustainable logistics services while strengthening its presence in key markets. Aditya Singh Ratnu, CEO of ZEVO, thanked the investors for their confidence in the company’s vision and said that ZEVO was making a transformative change in the EV sector. He added that with this capital infusion, they are well-positioned to further accelerate their growth trajectory, enhance their technological capabilities, and extend their operational reach to drive large-scale adoption of electric vehicles in India.
This investment, thus, is not only about having the capital it brings but also about its meaning; it signifies a strategic step toward building ZEVO’s mission: making logisitics great with the philosophy of efficiency along with environmental stewardship. As the proposed upgrades to ZEVO’s technology would enhance the system in managing supply chains, it would serve consumers with uninterrupted, cutting-edge solutions. Dhruv Bhatia, Co-founder of ZEVO, ensured that this funding has been the necessary boost to catalyse sustainable growth and technological progress, especially in the underprivileged areas. He said that they commit to applying the latest technologies and reaching for expansion. Ultimately, this is aligned with their broader goal of pushing the EV supply chain towards sustainable growth and innovation.
This potential in ZEVO, said Meet Jain, Co-Founder of BizDateUp, while appreciating the efforts of ZEVO to redefine logistics with its green solutions. In this light, ZEVO is positioned in a strategic place to enable the company to make a significant contribution to the export of electric vehicles in the country, even as India sets her sights on making her a trailblazer in the export of electric vehicles. The company plans to raise $20 million by January 2025. It’s ambitious that ZEVO is setting such targets and has a plan to have a fleet of 200,000 electric vehicles on the roads by 2030, which confirms its position as a market leader in EV logistics and underlines its commitment towards sustainable mobility solutions in India.
With the successful Pre-Series A funding round of $2 million, ZEVO zooms along not only to its goals of expansion but, in equal measure, sets out to underline its pioneering role with the rise of EV in transforming India into an efficient and sustainable logistics space. The clear vision, innovative approach, and firm dedication to environmental responsibility shall propel ZEVO toward making an indestructible impact on the logistics industry, paving the road toward a greener and more sustainable future.
