The company plans to leverage these funds to upgrade its technological infrastructure, ensuring cutting-edge solutions are in place to optimise logistics and supply chain management
ZEVO, a tech-enabled EV mobility platform, has secured $2 million in a Pre-Series A funding round led by Pegasus India Fund. The fresh capital will be used to deploy 5,000 electric vehicles and establish state-of-the-art fulfilment centres across key locations in India.
ZEVO plans to leverage these funds to upgrade its technological infrastructure, ensuring cutting-edge solutions are in place to optimise logistics and supply chain management. The company also aims 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.
"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," said Aditya Singh Ratnu, CEO of ZEVO. "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 revolutionise 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."
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."
Looking ahead, ZEVO is in talks to raise an additional $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 of having 200,000 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.