ZEVO, a powerhouse tech-enabled EV mobility platform, has successfully raised $2 million in a Pre-Series A funding round. The investment was led by Pegasus India Fund, BizDateUp, JIIF and a family office, marking a significant milestone in ZEVO’s journey towards revolutionizing the electric vehicle supply chain and logistics industry.
The newly acquired funds will be strategically utilized to deploy 5,000 electric vehicles and develop state-of-the-art fulfilment centres across key locations. This initiative aligns with ZEVO's commitment to enhancing its operational capabilities and meeting the growing demand for sustainable, efficient, and reliable logistics solutions.
ZEVO is set to upgrade its technological infrastructure, ensuring cutting-edge solutions are in place to optimize logistics and supply chain management. The company plans to expand its footprint to new cities and strengthen its presence in tier 2 and tier 3 cities, bringing sustainable mobility solutions to a broader audience.
Aditya Singh Ratnu, CEO of ZEVO, expressed his enthusiasm about the funding round, stating, "This investment is a testament to the confidence our investors have in our vision and the significant impact we are making in the EV industry. 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."
Dhruv Bhatia, Co-Founder of ZEVO stated: “This funding marks a pivotal step in our journey to revolutionize the EV supply chain. 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. We believe this infusion of capital will not only accelerate our mission but also set new benchmarks for efficiency and reliability in the industry.”
Meet Jain, Co-Founder of BizDateUp, added, "At BizDateUp, we focus on identifying businesses that have the potential to create lasting change, and ZEVO stands out as a key player in the EV mobility space. This investment is not just about financial support but about partnering with a company that is set to redefine logistics with its sustainable solutions. Recently, the Union Transport Minister highlighted India's potential to become the top exporter of electric two-wheelers, and we believe that ZEVO is well-positioned to contribute to this vision. We are excited to be part of ZEVO’s journey as they expand their electric fleet and help drive the transition to a greener, more efficient future for the logistics industry."
Looking ahead, ZEVO is in talks to raise $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.
Founded by visionary entrepreneurs, ZEVO is committed to redefining the standards of the electric vehicle industry. The company operates a comprehensive fleet of electric vehicles, catering to diverse delivery needs with a strong focus on operational efficiency and sustainability. ZEVO’s innovative approach and strategic partnerships are driving a new era of zero-emission logistics solutions in India.
