EVeez, a company that offers electric vehicles as a service, has raised $5.4 million in Series A funding. The round was led by the Michael & Susan Dell Foundation, with other investors like Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund also taking part.
Earlier, the company had raised about $994,000 from ah! Ventures and other investors.
EVeez plans to use the new money to expand its affordable electric two-wheeler subscription service, which is mainly used by gig workers such as delivery riders.
Abhishek Dwivedi, co-founder and COO of EVeez, added: “With India projected to have more than 20 million gig workers in the near future, EVeez is strategically positioned to revolutionize how this workforce accesses clean mobility solutions. We are committed to greening the last mile and making electric mobility accessible to everyone participating in the gig economy.”
EVeez was co-founded in 2020 by Abhishek Dwivedi and Gaurav Rathore. The company is based in Gurugram and aims to make electric vehicles more accessible for gig workers in India.
With weekly subscriptions starting at just ₹1,100, EVeez offers affordable and reliable electric two-wheelers. Users don’t need to buy the vehicle upfront making it easier and cheaper to use.
EVeez mainly helps low-income youth who work in delivery, e-commerce, or ride-hailing jobs. It gives them access to electric two-wheelers they can use for work.
The service includes everything—insurance, repairs, battery swap options, and EV training. This way, gig workers don’t have to worry about extra costs or breakdowns and can focus on earning money.
EVeez now operates 7,000 electric two-wheelers in 15 cities. It plans to grow its fleet to 50,000 vehicles in 30 cities by the financial year 2027 (FY27).
Right now, 55% of its users are first-time gig workers, while the other 45% used petrol bikes before switching to EVeez.
By FY27, the company hopes to help over 40,000 new gig workers start their careers in the gig economy.
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