EV start-up MoEVing raises $2.5 mn from JSW Ventures, aims to cut 1,000 tonnes of carbon emissions

Electric mobility tech platform MoEVing has raised $2.5 million from JSW Ventures.  

The startup will use these maiden funds to strengthen its platform for driver-partners across India, expand its presence across multiple cities in India & build a team across functions, the company said in a press release.

Founded by Vikash Mishra and Mragank Jain in 2021, MoEVing operates pan India with  1,500 electric vehicles, including 2-wheelers and 3-wheelers, across 15 cities. It has set up over 30 multi-modal charging hubs nationwide.

Vikash Mishra, said, "India has the potential to become an "EV first" country. The push for EVs will mean a complete rethinking of the transportation ecosystem, which must be built from the ground up in many places. MoEVing is working to do that in the commercial EV space. We believe EV adoption will be driven by commercial transportation, especially in the first/last mile delivery space."

The startup aims to decarbonize the commercial transportation industry, particularly in the first- and last-mile delivery space. The company expects to cut its carbon emissions by around 1,000 tonnes of carbon dioxide soon.