Early funding round secured by Evera, Pidge and MITRA
- ByStartupStory | March 7, 2023
Pre-Series A funding round nets EV cab startup Evera $7 million
Evera Cabs, an electric cab service, has successfully completed its pre-Series A funding round by securing $7 million. The funding was raised in two tranches, with the initial tranche led by IEG Investment Banking Group from Germany, and the subsequent tranche from Direct Capital, a subsidiary of Devonshire Capital from Thailand and Westova Global from Singapore.
Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal are the founders of Evera, which operates primarily in the Delhi-NCR region and boasts of covering 10 million kilometres. The startup has received funding to expand its fleet and technology. It recently entered into a partnership with GMR to offer services at the Indira Gandhi International airport in New Delhi. In 2022, Evera signed an MoU with TATA Motors to add 2000 EV cars to its fleet.
SaaS startup Pidge raises $3 million led by Mountain Partners
Mountain Partners, a Europe-based venture capital firm, has led a funding round of $3 million for Pidge, a SaaS startup that caters to the logistics industry.
Ratnesh Verma and Rushil Mohan established Pidge in 2019. The startup provides a hybrid fulfilment platform that combines SaaS and network capabilities. Pidge claims that its technology enables customers to achieve zero unfulfilled demand, reduce costs through latency-optimised algorithms, and enhance customer experience by offering automated tracking, alerts, and notifications.
According to Pidge’s Founder & CEO, Ratnesh Verma, the startup’s SaaS offering will offer comprehensive last-mile solutions to businesses that have their own fleet. Pidge claims to have facilitated over 5 million deliveries and has more than 400,000 network users. The startup had previously secured funding from the Indian Angel Network in 2021.
Seed funding secured by D2C brand MITRA
DealBasket-MITRA, a D2C food brand, has raised an undisclosed sum in a seed funding round led by Bestvantage Investments. The startup intends to utilise the funds to establish a manufacturing unit and expand its product range.
Abhishek Kaushik founded MITRA in 2022, and the startup’s product line spans across 10 categories, including flour, pulses, spices, dry fruits and nuts, rice, instant mixes, millet-based and ready-to-eat products. MITRA claims that it has achieved a 42-fold growth and 68% repeat orders.
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