EV Social Commerce Startup EVINDIA Raises Pre-Seed Funding
EVINDIA, an Ahmedabad-based EV social commerce startup, has raised an undisclosed amount in a pre-seed funding round from EvolveX Accelerator.
Investors, including Neeraj Tyagi, Gaurav VK Singhvi, and Vikas Aggarwal, also participated in the funding round.
As per the startup, the freshly raised funds will be strategically allocated towards product development, business expansion, supporting the community and building a creator economy.
EVINDIA | EV Social Commerce Startup
Founded by Tarpan Vyas, EVINDIA is an Ahmedabad-based social commerce platform dedicated to the EV Industry. The startup aims to fill the market gap of lack of relevant information and help prospective EV buyers choose the right product fit for them.
Speaking about the development, Tarpan Vyas, Founder and CEO of EVINDIA, said,
“We are deeply gratified by the unwavering trust shown by one of India’s prominent investors during the ideal stages of our journey. Being alongside their esteemed portfolio of EV startups is truly inspiring, and their unwavering support over the past year has been pivotal in our transformative 0 to 1 journey. As we embark on the next phase of EVINDIA, we eagerly rely on their continued guidance and backing.”
The funding round was led by EvolveX accelerator, a startup accelerator launched by We Founder Circle. Since its inception in 2021, the startup accelerator, through its program, has been providing high-impact acceleration to early-revenue startups from various sectors.
Commenting on the development, Bhawna Bhatnagar, Co-founder of EvolveX, said,
“EV is an emerging sector in India with 2-wheeler driving a bigger pie in it. Platforms like EVINDIA bring a lot of innovation for the consumer to make their firm decision of buying their first 2-wheeler. Tarpan Vyas and his team have demonstrated exceptional vision and expertise in creating a platform that simplifies and enhances the EV ownership experience. At EvolveX, we firmly believe in their potential to make a significant impact in this space.”
Earlier this month, EV startup Vegh raised $5 million (Rs 40.9 crore) as part of its ongoing pre-series A funding round to support its working capital needs, improve the sales and distribution network, expand its manufacturing capabilities for EV parts, and research and development initiatives.
Also, EV asset and lending platform Finayo raised an undisclosed amount to develop its technology stack and formulate an efficient EV asset and lending solution.
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