Blog

EV cab startup Evera raises $7 million in pre-Series A round

Electric cab service Evera has raised $7 million as the final closure of its pre-Series A round of funding. This startup secured the investments in two tranches, initially led by IEG Investment Banking Group, Germany and later from Direct Capital— subsidiary of Devonshire Capital, Thailand & Westova Global, Singapore.

Founded by Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal, Evera primarily operates in the Delhi-NCR region and claimes to have clocked 10 million kilometers. The startup will use this round of investment to expand its fleet and technology.

Evera recently partnered with GMR and started its services from Indira Gandhi International airport in New Delhi. Last year, it signed a memorandum of understanding (MoU) with TATA Motors to increase its fleet size by 2000 EV cars.

SaaS startup Pidge raises $3 million led by Mountain Partners

Pidge, a software-as-a-service (SaaS) startup focused on the logistics industry has raised $3 million in funding led by Mountain Partners, a venture capital firm based in Europe.

Founded in 2019 by Ratnesh Verma and Rushil Mohan, the technology platform of Pidge combines SaaS and network capability to create a hybrid fulfillment platform. This startup claimed its solution enables customers to grow their revenue by ensuring zero unfulfilled demand, reduce costs through latency optimised algorithms, and improve customer experience through automated tracking, alerts, and notifications.

“Pidge SaaS will provide end-to-end last mile solutions for businesses with their own fleet,” said its Founder & CEO Ratnesh Verma

Pidge claimed it has enabled over 5 million deliveries and has over 400,000 network users. This startup had previously raised funding from Indian Angel Network in 2021.

D2C brand MITRA raises seed capital

MITRA, a direct-to-consumer (D2C) food brand has raised an undisclosed amount in a seed funding round which was led by Bestvantage Investments. It plans to use this capital to set up a manufacturing unit and expansion of its product line.

Founded in 2022 by Abhishek Kaushik, MITRA has in its portfolio of products in 10 categories across segments such as flour, pulses, spices, dry fruits & nuts, rice, instant mixes, millet-based and ready-to-eat products. This startup claimed it has recorded around 42 times growth with 68% repeat orders.