Prakriti E-mobility secures lead investment from Europe’s IEG as part of its $5 million pre-series A round

NEW DELHI: Prakriti E-mobility, a leader in electric mobility in India, has secured a lead investment from Europe’s growth-focused

IEG Investment Banking Group

as part of its $5 million Pre-Series A funding round. With this investment, the company plans on implementing technological advancements, expansion of EV fleet and empaneling EV charging stations into its mobile application across India.


Founded in 2019 by

Nimish Trivedi

,

Rajeev Tiwari

and Vikas Bansal, Prakriti E-mobility is an asset-light EV cab service provider for customers across B2C and B2B segments. As of today, the company is operational in Delhi NCR through its flagship mobile application ‘

Evera

’.

On the growth, expansion and investment, Nimish Trivedi, co-founder & CEO - Prakriti E-mobility, said, “In a short span of 2.5-years, Prakriti E-mobility has clocked eight million green KMs across Delhi NCR with highest per employee revenue earned in this segment in India. The recent funding will be utilized to make holistic upgrades to the Evera application and launch across the B2B and intercity travel segments.”

“The EV industry in India is picking pace with 100% FDI possible, new manufacturing hubs, and an increased push to improve charging infrastructure. We are enthusiastic to further drive our expansion by adding more EVs in Delhi NCR and then venture out to tier 2 cities The company will also be empaneling public charging stations on the EVERA app Pan-India so that even if we are not operating the cabs there, the consumer can still download and take advantage of locating a charging station,” he added.