Evera Cabs, an all-electric app-based taxi service, has raised $4 million in funding from Mufin Green Finance through a hybrid structure comprising convertible debentures and debt.
The capital raised will be used to expand its electric vehicle fleet.
Founded in 2019 by Vikas Bansal, Rajeev Tiwari, and Nimish Trivedi, Evera Cabs runs as an app-based cab service through a fleet of electric vehicles.
Nimish Trivedi, Co-founder and CEO, Evera Cabs, said, “Our strategic partnership with Mufin Green Finance marks a pivotal step in scaling sustainable electric mobility. Their backing empowers us to accelerate the deployment of EVs and strengthen our operational backbone. Our recent acquisition of BluSmart’s fleet and driver network further enhances our capability to help corporate MNCs (B2B) to meet their carbon reduction targets and to deliver No cancellation and No surge Airport transfer services for Individuals (B2C). This is not just an expansion, it is a planned effort to reshape the EV landscape in India with agility and intent.”
Nimish Trivedi, Co-founder and CEO, Evera Cabs, said, “At Evera, our core focus has always been delivering a clean-tech-powered, seamless, and disruption-free commuting experience. This new investment allows us to double down on our customer-first approach from our zero-cancellation commitment to surge-free fares ensuring Our B2C riders can rely on Evera, every time. The integration of BluSmart’s high-quality EV fleet further accelerates our mission to set new benchmarks in sustainable and dependable urban mobility.”
