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Ahmedabad Business

EVIFY lays the groundwork for future growth with its upcoming fund raise

by TLAteam March 27, 2023March 27, 2023
written by TLAteam March 27, 2023March 27, 2023
EVIFY lays the groundwork for future growth with its upcoming fund raise

We Founder Circle led a $200,000 seed round for EVIFY, a tech-focused EV logistics startup. An array of esteemed angel investors, including Apurva Arora, Jayesh Gulabani, and Rajeev Mehta, also participated in the round. Until now, the company has raised $300,000 from a variety of investors.

The proceeds of this investment round will be used primarily to expand the company’s operations in Ahmedabad. According to Pragya Mittal, co-founder and CMO of Evify, a portion of the newly raised investment will also go towards the development of a full stack tech platform that will allow them to scale in multiple locations.

“This is a great end to fiscal year for the company. We have been working on adding technological advancements into our delivery operations through the use of telematics device to create a tech enabled fleet management system which will revolutionize the unorganized logistics market,” said Devrishi Arora, co-founder and CEO, EVIFY.

By the end of 2024, EVIFY hopes to have a fleet of 2000 vehicles successfully deployed in Surat, Ahmedabad, Vadodara, and Rajkot.

Evify is Gujarat’s largest EV fleet service provider and India’s first carbon negative EV fleet owner. In the near future, the company also intends to generate carbon credits.

Evify solely uses electric vehicles (EVs) for deliveries. Their aim is to decarbonize last mile deliveries in all the major Tier II cities of India. With this aim, they have been operational in Surat for more than a year now servicing e-commerce behemoths like Swiggy, Zomato, Bluedart, Big Basket, Flipkart and Ecom- Express. Up till Feb 2023, the platform has tracked over 300,000 green deliveries and over 16,66,000 green kilometers.

The company has recently started its operations in Ahmedabad with Big basket and Flipkart. All other clients are in the pipeline with whom the deployment is planned in the coming months.

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