ZEVO Secures $2 Million Pre-Series A Funding Led by Pegasus India Fund
- ByStartupStory | October 4, 2024
ZEVO, a tech-enabled electric vehicle (EV) mobility platform, has successfully raised $2 million in its pre-Series A funding round. The round was led by Pegasus India Fund and saw participation from BizDateUp, JITO Incubation and Innovation Foundation (JIIF), and a prominent family office. The fresh capital will be primarily utilized to expand ZEVO’s fleet and enhance its operational capabilities, with a focus on bolstering sustainable mobility solutions.
With this funding, ZEVO plans to deploy 5,000 electric vehicles and set up fulfillment centers across key strategic locations in India. Founded by Aditya Singh Ratnu and Dhruv Bhatia, the company has quickly gained recognition for its comprehensive EV fleet, catering to a diverse range of delivery needs with a strong emphasis on operational efficiency and sustainability.
ZEVO’s immediate focus will be on upgrading its tech platform, which will optimize operations and support the company’s ambitious plans to expand into new markets. In particular, the company intends to strengthen its presence in tier II and tier III cities, providing sustainable mobility solutions to a broader audience.
Looking to the future, ZEVO has even bigger plans. The company is already in discussions to raise an additional $20 million by January 2025. This larger funding round will be instrumental in supporting ZEVO’s goal of having 2,00,000 electric vehicles on the road by 2030, firmly positioning itself as a leader in the EV supply chain market.
As ZEVO gears up for the next phase of its growth, the company is committed to bringing sustainable mobility solutions to the forefront of India’s logistics industry, ultimately contributing to a greener and more efficient future.
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