ZEVO is an EV supply chain platform offering supply chain solutions that secured 2 million USD from Pegasus India Fund and others in its ongoing pre-series A funding round. BizDateUp, JIIF, and the family office led the round with the participation of other investors. The startup plans to use these fresh proceeds to scale its operations, grow its operation and sales team, develop fulfillment centers, and expand its services in the global market.
The company intends to mainly use this investment to deploy around 5,000 electric vehicles while developing fulfillment centers. The startup electrifies the supply chain network including the last-mile delivery, forward or reverse logistics, agricultural supply chain, and temperature-controlled refrigerated delivery. The company provides EV charging infrastructure, SaaS solutions, IoT-based vehicles, and apps to manage Electric fleets. The startup has secured around $517k across one funding round since its inception, this includes a seed funding round led by Agility. The data intelligence platform, tracxn reported a post-money valuation of $18.6 million as of July 2024. The development came just after the Indian electric vehicle and EV supply chain market saw increased investor interest.
The company earns its revenue through logistic solutions and subscription-based services. The startup develops electric mobility solutions and provides a supply chain network. The investment will help the company strengthen its product services and expand its network in the EV market. ZEVO is focused on enhancing its technological infrastructure to ensure solutions are in place to optimize logistics and supply chain management. The company wants to expand its services in new cities while strengthening its presence in tier II and tier III cities across India. The EV platform aims to bring sustainable solutions and transform the EV supply chain market.
The Delhi-based startup also announced its plans to raise 20 million USD from its investors by January 2025. Entrackr reported. The investment is expected to enable the company to improve its efforts to lead the electric vehicle supply chain market. The company intends to use the future investment to achieve its growth and sustainability goals to have around 2,00,000 electric vehicles on the road by 2030. The startup uses advanced technology to provide supply chain solutions. The company faces competition from other EV solution offering platforms such as Magenta, and smartE.
Conclusion :
ZEVO is an EV startup providing supply chain solutions for electric vehicles. The startup raised fresh capital of 2 million USD from Pegasus India Fund, JIIF, and others in its fresh pre-series A funding round. The funding round saw participation from several investors including BizDateUp, and a family office. The company plans to use this amount to scale its operations, expand its services, and develop market presence.
The startup intends to launch 5,000 electric vehicles and fulfillment centers in key locations using this investment. The company aims to have 2,00,000 electric vehicles on the road in the next six years. The company plans to raise $20 million by January 2025 and use this investment to achieve its sustainability and growth goals.
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