EVeez Has Grown 5X, Expanding Its Operations With A Trip to Bengaluru

During the event, there was also a panel discussion on the topic of “Electric Mobility: A 360-Degree Perspective,” moderated by Dr. Sunil Shekhawat.

This year, Eveez has experienced an exceptional five-fold growth, expanding its fleet from 700 e-bikes to 3500 e-bikes and integrating Bengaluru into its operations. EVeez plans to grow five times in the upcoming fiscal year 2024 in addition to continuing to build on its current growth trajectory. In addition, the business intends to grow into more recent cities like Pune, Chandigarh, Chennai, and Ahmedabad.

The startup recently partnered with HSBC India and Ev2 Ventures, a shrewd, sustainable venture capital fund that focuses on mobility, to organize the “Electric Mobility Mixer,” a networking event on electric mobility that will take place at the Le Meridien in Gurugram on March 29, 2023. To discuss the significance and potential role of electric mobility in the nation, the event brought together senior members of the venture capitalist and electric vehicle communities, along with industry leaders, startup founders, and important stakeholders.

The CEO and founder of EVeez, Gaurav Rathore, commented on the expansion, saying, “The EV business has shown immense growth in the past few years.” Being the first in this industry, we faced obstacles like supply chain problems and regulatory hurdles, but we had to continue growing. We treat the EV category like a young tree, so we’re thrilled to report today that we’ve grown it by 5X year over year. It was no easy task to achieve a historic high growth rate in the face of such external factors, and team EVeez’s tenacity and resolve are well demonstrated by this accomplishment. We would especially like to thank our EV network, strategic partners, and customers for making this possible.”

“EVeez has 2000+ individual and gig riders aboard and works with over 150 small businesses as well as about 15+ logistics companies and fleet operators,” continued Abhishek Dwivedi, COO & Founder of EVeez. From our initial 700 e-bikes, we now have over 3500 e-bikes on the road. We currently operate in cities such as Delhi NCR, Hyderabad, Bangalore, and Kolkata, but by the end of FY 2024, we plan to expand our reach to Chandigarh, Chennai, Pune, Mumbai, and Ahmedabad with over 20,000 e-bikes. We’ll keep concentrating on fostering the ecosystem of gig riders by giving them the freedom and flexibility to enter the workforce without the need for middlemen.

During the event, a panel discussion on the topic “Electric Mobility: A 360-Degree Perspective” was organized and moderated by Dr. Sunil Shekhawat. Attendees were given a comprehensive overview of the electric mobility ecosystem by prominent industry experts, banks, and venture capitalist funds involved in the ecosystem. The panelists talked about how the development of new technologies, creative business strategies, and substantial funding for electric mobility are still propelling the EV industry forward. The occasion provided a fantastic forum for reviewing the past year and planning for the future.

Prominent industry figures participated in the panel discussion: Jaideep Singh Kalra, Director & Head of Business Banking at HSBC Bank; Atul Arya, Head of Energy Systems Division at Panasonic; Karann Mittal, Partner, EV2 Ventures; Prateek Nijhawan, Managing Partner at SailThru Ventures; and Kapil Mahajan, Partner at AKM Global.

In addition, Gaurav Rathore discussed the financial year 2023 and how, particularly in terms of electric mobility as a service (eMaaS), it has been a turning point for the adoption of EVs. He expressed his gratitude to OEM partners, fleet and logistics managers, small business owners, and customers for their outstanding support and role in EVeez’s expansion. Additionally, he used the occasion to express gratitude to platforms and financial partners like OTO Capital, Gripinvest, Leaf Round, Alt mobility, WheelsEMI, and Ecofy for their important contributions to the financing and leasing of e-bikes. In order to meet fleet requirements in FY 24, he further expressed confidence in carrying on with collaboration between NBFCs and mainstream banks.

In summary, he underscored that EVeez is positioned to expand at a rate of five times the current rate and emerge as a frontrunner in the sustainable and environmentally conscious future. This aligns with the government’s and the prime minister’s stated objectives of selling only electric vehicles by 2030.

Leave a Reply

Your email address will not be published. Required fields are marked *