Electric mobility tech platform MoEVing has raised $2.5 million from JSW Ventures. The fund will be used to strengthen the platform for driver partners across India, it said.
Part of the fund will be used to expand to more cities and build a team across functions.
MoEVing’s funding now stands at $10 million.
Sachin Tagra, Partner, JSW Ventures, said the fresh investment recognises the opportunity for MoEVing to grow exponentially by capitalising on the early EV wave, as Indian businesses transition their supply chain to electric mobility.
Vikash Mishra, Co-Founder and CEO, MoEVing, said the push to EVs will mean a complete rethinking of the transportation ecosystem, which, in many places, has to be built ground-up.
MoEVing operates 1,500 electric vehicles including two-wheelers and three-wheelers; it has set up over 30 multi-modal charging hubs nationally and established partnerships with financial institutions to finance individual drivers.