- MoEVing is the tech platform to transform the EV ecosystem to accelerate EV adoption in India.
- It aims to onboard 1 million EVs by 2030 by focusing on an integrated approach to demand aggregation, supply optimization, & connecting with charging infra.
- MoEVing stands out with credible people with 50+ years of experience in managing electric fleet operations, cutting-edge technology to drive operational efficiency, and comfortable working in the B2B space.
In the bustling cityscape of Chennai, India, a quiet revolution is taking place, led by a trio of determined visionaries.
MoEVing, a pathbreaker in the world of electric mobility, is rewriting the rules of urban logistics. Founded in 2021, this dynamic company is not just another startup; it's a catalyst for change in the realm of sustainable transportation.
The Genesis of a Green Vision
The story of MoEVing began with three ambitious minds: Mragank Jain, Pramod Marar, and Vikash Mishra.
Each brought a unique set of skills and experiences to the table. Jain, the CEO, had previously navigated the complex waters of technology and logistics, while Marar, the COO, had honed his expertise in operational excellence.
Mishra, the CTO, was a tech wizard with a knack for turning innovative ideas into reality.
Their shared vision was clear: to revolutionize urban freight with electric vehicles (EVs) and contribute to a greener planet.
With the launch of MoEVing, they embarked on a mission to challenge the status quo and make a tangible impact on the environment.
Driving Change: Milestones in MoEVing's Journey
In its first year, MoEVing made headlines with its groundbreaking partnership with Switch Mobility.
This collaboration was not just a business deal but a significant leap toward reducing carbon emissions in urban areas.
By 2023, the alliance was set to deliver over 2,500 electric light commercial vehicles (e-LCVs), promising to reshape the logistics landscape in India.
"MoEVing's forward-thinking approach mirrors the global trend towards data-driven efficiency in the logistics industry," said Vikash Mishra.
But MoEVing’s ambitions didn’t stop at partnerships. The company earned a remarkable accolade in early 2024 when it secured accreditation from VERRA for its carbon credits.
This certification is a testament to MoEVing’s commitment to sustainable practices and its role in promoting transformative environmental policies.
Building a Green Network
MoEVing's journey is characterized by significant investments and strategic partnerships, reflecting strong investor confidence in its vision for sustainable urban transportation.
The company has raised a total of $13.4 million across eight funding rounds. Notably, the largest funding round was a $5 million Seed round held on May 9, 2022, led by Beyondteq and TradeCred.
MoEVing's investor base includes both institutional investors and angel investors. Institutional investors like JSW Ventures, which invested $2.5 million in the Series A round in October 2022, have played a crucial role in supporting MoEVing's growth.
Other notable institutional investors include StrideOne, N+1 Capital, and Beyond Technologies.
The funds raised have been instrumental in expanding MoEVing's operations across 15 cities, setting up over 30 multi-modal charging hubs, and maintaining a fleet of 1,500 electric vehicles.
These efforts highlight MoEVing's commitment to revolutionizing last-mile delivery through electric mobility.
The Road Ahead
Looking ahead, MoEVing is poised to continue its journey of innovation and impact.
The company’s commitment to electric mobility is not just about business; it’s about creating a legacy of sustainability and efficiency.
As urban areas around the world grapple with pollution and congestion, MoEVing stands ready to lead the charge toward a cleaner, more efficient future.
Edited By Annette George
