EV-tech Startup MoEVing raised $5 million in Seed from D.S. Brar, Chairman Aragen Life Sciences

E-mobility technology platform MoEVing raised seed fund of $5 million from D.S. Brar, promoter-chairman of Aragen Life Sciences, Anshuman Maheshwary, COO of IIFL Wealth and Asset Management, Srihari Raju Kalidindi, executive director & COO Viyash Life Sciences, Ashish Goel, founder of Urban Ladder, tech entrepreneur Krishnadeva Veerareddy, among others.

The company currently operates 600 EVs in 10 cities and aims to scale to 10,000 EVs, 100 charging hubs in 30 cities by 2023, said a company statement.

Founded in January 2021, the platform provides solutions to e-commerce, e-grocery, FMCG, logistics and D2C companies to optimise their logistics costs and reduce carbon emission. It also works with OEMs, driver cum owners and financial institutions to help address constraints which come in the way of EV adoption.

Talking about the same, founder and CSO Of MoEVing, Mragank Jain said, “Electrification of the fleet requires fundamental changes in the operational approach including routing algorithms, charging solutions and financing solutions. We are building a driver-centric platform that provides full-stack technology solutions including delivery, charging, financing and analytics solutions thereby making EV adoption a seamless process”.

MoEVing has a team of over 80 people, with offices in Gurgaon, Bangalore and other cities. It is currently operational in 10 cities, including Delhi NCR, Pune, Mumbai, Chandigarh, Bengaluru, Chennai, Hyderabad and Kolkata.

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