EVeez, an electric mobility-as-a-service (eMaaS) platforms, has raised USD 5.4 million in Series A funding, to expand its affordable electric two-wheeler subscription service for gig workers. 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.
EVeez’s impact-first model opens opportunities in India’s booming gig-economy by making electric vehicle subscriptions affordable. With weekly subscription plans starting at just Rs. 1,100, EVeez enables individuals, especially those from low-income urban communities, to join platforms in quick commerce, food delivery, e-commerce, and ride-hailing without the upfront burden of vehicle ownership.
“The focus of EVeez has always been growth with a purpose,”said Gaurav Rathore, co-founder and CEO of EVeez. “Our business model of EV subscriptions solves critical problems in the EV ecosystem, including vehicle ownership and maintenance and access to finance, while creating livelihood opportunities.”
Today, EVeez operates a fleet of 7,000 EVs across 15 cities, with plans to scale to 30 cities and 50,000 vehicles by FY27. Of its current users, 55% are first-time gig workers, and the remaining 45% are transitioning from internal combustion engine (ICE) vehicles, whose take-home income has increased due to a reduction in fuel and maintenance costs.
By FY27, EVeez aims to enable over 40,000 new gig workers to join the workforce.
“EVeez is opening the door to India’s booming delivery and gig work market for thousands of young people,” says Prachi Windlass, Head of India at the Michael & Susan Dell Foundation. “With a low-cost subscription model, increased earning potential, and practical benefits like insurance, it’s giving gig workers more control over how, when, and how much they earn, and creating real opportunities for independent work.”
“We are excited to back EVeez, with an aim to decarbonise the Indian 2-Wheeler market, which is the largest segment in the Automotive sector. India’s EV industry is at a pivotal inflection point—driven by rising fuel costs, supportive policies, and a growing sustainability push—while gig workers emerge as the backbone of the urban delivery economy, fueling the rapid rise of e-commerce, food delivery, and quick commerce. At the intersection of these two shifts, EVeez subscription model offers affordable and efficient mobility solution tailored to the needs of this fast-growing workforce.” says Karan Mittal, Managing Partner, Caret^ Capital. Karan also holds a Board seat at Eveez.
The model goes beyond rentals—it includes repairs, insurance, battery swap tie-ups, and EV training, helping gig workers focus on earning, not on managing vehicle downtime or debt.
COMMENTS