Electric vehicle logistics-tech startup EVIFY has secured $1.3 million in pre-Series A round co-led by GVFL and Piper Serica Angel Fund along with participation from existing investors We Founder Circle, IVY Growth and other angel investors.
The Surat-based company had previously raised $100K in August last year.
The fresh proceeds will be allocated towards expanding its operations across Gujrat and product innovation, EVIFY stated in a press release.
Co-founded in 2021 by Devrishi Arora and Pragya Mittal, EVIFY focuses on electric vehicle logistics to transition India’s D2C/FMCG/E-commerce last-mile delivery to electric vehicles. It intends to create impact in the electric vehicle logistics sector across India by making it carbon-negative through technological innovation.
According to EVIFY, it also offers a comprehensive logistics management solution including fleet and driver management, route optimization, battery management, telematics, and financial services. The company is looking at more partnerships with various ancillary industries, including battery swapping companies, battery manufacturers, and vehicle and spare parts makers, to develop the infrastructure for EV vehicles in India.
EVIFY aims to grow the existing fleet from 400 to 4,000 electric bikes by March 2025 and is currently operational in Surat and Ahmedabad. The startup works with Big Basket, Swiggy, Zomato, Flipkart, E-com Express and Blue Dart. It works with around 500 delivery partners and will increase the headcount ten times by the end of this year.