EVeez, a company that rents electric scooters, has raised $5.4 million in the Series A funding round.
The round was led by the Michael & Susan Dell Foundation, with participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund. Previously, EVeez had raised around $994,000 from ah! Ventures and a few other investors.
What EVeez Does
Founded in 2020 by Abhishek Dwivedi and Gaurav Rathore, EVeez helps gig workers—such as delivery riders, bike taxi drivers, and other daily earners—access electric scooters on a weekly rental basis. With plans starting at just ₹1,100 per week, workers can start earning without the burden of buying a new bike upfront.
Extra Help for Gig Workers
EVeez offers more than just scooter rentals. The service includes free repairs, insurance, battery swapping, and EV training. This helps workers focus on earning, without worrying about petrol expenses or unexpected breakdowns. For many from low-income or small-town backgrounds, it’s a reliable way to start working quickly.
EVeez Plans to Grow Fast
Currently operating a fleet of 7,000 electric scooters across 15 cities, EVeez aims to expand to 30 cities and 50,000 scooters by FY27. Over 55% of their users are first-time gig workers, while others have transitioned from petrol bikes. By 2027, EVeez hopes to help 40,000 new individuals join the gig economy with affordable, eco-friendly vehicles.
Who Are the Competitors?
EVeez faces competition from players like Yulu, Bounce Infinity, Zypp Electric, and Ola Electric. Yulu focuses on e-bike rentals for short urban trips, while Zypp Electric leads in the delivery segment, partnering with companies like Zomato and Swiggy. As demand rises, competition in this space continues to grow.
Why This Matters Now
India’s gig economy is expanding rapidly, with projections estimating over 20 million gig workers in the near future. While many are joining sectors like quick commerce and food delivery, high fuel costs and vehicle ownership remain barriers. EVeez offers a cost-effective, sustainable solution that supports both income generation and the environment.
With this new funding, EVeez aims to make electric mobility more accessible and help transform the way India’s gig workforce moves—greening the last mile and reducing dependency on fossil fuels.
