The funding round was led by mobility veteran, Ola Electric co-founder and senior advisor Anand Shah along with BryAir director Varun Pahwa, and DMI Group partner Anmol Nayyar. The three invested an undisclosed amount in the mobility tech startup EVage, which is set to launch their first Electric Delivery Van on a completely ‘Made in India’ structure.
“India is poised to be a major market for electric vehicles, starting with heavy users who depend on vehicles for their businesses and livelihoods. EVage has spent several years developing innovations that make it easier to manufacture and deploy commercial electric vehicles. I am excited to support their capable team as they bring transformative new vehicles to the logistics market,” said Anand Shah, Ola Electric.
EVage’s team of experts from aerospace, automotive design, and battery manufacturing industries are focused on addressing the specific mobility needs of India’s rapidly growing logistics and e-commerce segments. EVage in line with PM Modi’s vision of ‘Made in India, Made for World’ is set to disrupt the logistics sector with the upcoming launch of their four-wheeler electric delivery van.
Sharing the organisational vision, Founder & CEO, Inderveer Singh said, “We are working hard to make it easy for vehicle-dependent businesses to leverage clean mobility with purpose-built products. It is our privilege to have a visionary in the EV and mobility industry – Anand Shah guiding us in this journey of ours. His experience with Ola Electric, BMW and Audi will only strengthen our long-term vision to make logistics efficient for our customers and promote clean transportation.”
The funds will be used to build vehicles and deliver initial orders to EVage’s customers.