Electric vehicle mobility platform ZEVO has secured $2 million in a pre-Series A funding round, led by Pegasus India Fund, BizDateUp, JIIF, and a family office. According to the company, these funds will be used to roll out 5,000 electric vehicles and build advanced fulfillment centers in key locations, supporting its ongoing efforts to enhance operational efficiency and sustainability.
ZEVO, a technology-driven platform, plans to leverage this investment to expand its services, especially in tier-2 and tier-3 cities, by improving its supply chain management and technological capabilities. Co-founder Dhruv Bhatia commented, “This funding is crucial for our mission to transform the EV supply chain. By adopting cutting-edge technology and expanding into new markets, we are dedicated to fostering sustainable growth and innovation.”
CEO Aditya Singh Ratnu expressed his excitement about the investment, stating, “This funding reflects the trust our investors have in ZEVO’s vision to revolutionize logistics with electric vehicles. It will fuel our expansion and technological advancements, bringing us closer to our goal of leading the sustainable logistics sector in India.”
Looking ahead, ZEVO is aiming to raise an additional $20 million by January 2025 to further accelerate its growth. With an ambitious target to have 200,000 electric vehicles on the road by 2030, the company is committed to reshaping the logistics industry with a strong focus on environmental responsibility.