Delhi-based clean-mobility startup Evera Cabs has secured $4 million in fresh funding from Mufin Green Finance through a hybrid structure comprising convertible debentures and debt. The capital infusion will accelerate the expansion of Evera’s electric vehicle fleet and enhance its airport-centric transport services.
Key Highlights
- Funding Details
- The $4 million funding round was structured as a mix of convertible debentures and traditional debt.
- This follows the company’s earlier seed round of $7.14 million, which was led by IEG and other investors.
- Fleet & Expansion Plans
- The new funds will be utilized to grow Evera’s EV fleet, strengthen its airport operations, and extend coverage across multiple terminals at Delhi Airport.
- About Evera Cabs
- Founded in 2019 by Vikas Bansal, Rajeev Tiwari, and Nimish Trivedi, Evera Cabs operates under Prakriti E-Mobility, a venture focused on sustainable energy and clean mobility.
- The platform offers a safe, reliable, and eco-friendly ride experience through its app-based service.
- Service Focus
- B2B Segment: Evera caters to a variety of corporate clients, providing tailored transportation solutions.
- B2C Segment: The consumer offering is focused on airport travel, with policies like no cancellations and no surge pricing, ensuring consistent service and pricing.
- Sustainability Commitment
- Evera’s mission centers around reducing carbon emissions and promoting clean transportation alternatives in urban areas.
- CEO Nimish Trivedi stated, “At Evera, our core focus has always been delivering a clean-tech-powered, seamless, and disruption-free commuting experience.”
- Recent Developments
- In May 2025, Evera reclaimed 500 electric cabs that were previously operated by BluSmart, following its suspension in several metro cities.
- The company reinforced its plans to expand airport-centric services, aiming for end-to-end EV coverage across all terminals in Delhi.
