EV Ride-Hailing Startup Evera Cabs Raises $4 Mn from Mufin Green Finance to Expand Clean Mobility Services
Electric vehicle (EV) ride-hailing startup Evera Cabs has secured $4 million (INR 34.45 crore) in funding from Mufin Green Finance, a prominent player in the green financing space. The funding round comprises a mix of convertible debentures and debt, providing a much-needed boost to Evera Cabs as it accelerates its mission to revolutionize urban mobility with clean and sustainable transport solutions.
Founded in 2019 by Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal, Evera Cabs has quickly emerged as a notable EV ride-hailing platform in India. Unlike conventional ride-hailing services, Evera focuses exclusively on electric vehicle operations, aligning its business model with the country’s broader climate and sustainability goals.
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Speaking on the latest investment, Nimish Trivedi, cofounder and CEO of Evera Cabs, said:
“At Evera, our core focus has always been delivering a clean-tech-powered, seamless, and disruption-free commuting experience. This new investment allows us to double down on our customer-first approach — from our zero-cancellation commitment to surge-free fares — ensuring our B2C riders can rely on Evera, every time.”
Unique Customer-Centric Approach
Evera Cabs stands out in the competitive ride-hailing market through its no cancellation and no surge pricing policy. These customer-friendly practices help build trust and reliability in a sector often criticized for unpredictable pricing and last-minute cancellations. This consistent experience has made Evera a preferred choice for eco-conscious commuters, particularly in urban areas.
The company also operates a B2B model, offering clean and efficient transportation solutions for corporates. It focuses especially on airport-centric travel, catering to both business and leisure travelers who prioritize punctuality, comfort, and sustainability. By targeting corporate partnerships and frequent travelers, Evera has created a niche within the broader EV mobility market.
Strategic Funding for Growth and Expansion
The $4 million infusion from Mufin Green Finance will enable Evera Cabs to scale its operations, improve its EV fleet infrastructure, and enhance customer service through technology upgrades. The funding will also support the expansion of Evera’s footprint in new cities and key transit zones, reinforcing its role in India’s green mobility ecosystem.
Mufin Green Finance, known for supporting environmentally responsible projects, sees this investment as a strategic fit. Their collaboration with Evera Cabs reflects a shared vision for carbon-neutral transportation solutions and a commitment to making electric mobility mainstream in India.
Looking Ahead
With rising fuel costs, urban pollution, and increasing government support for EV adoption, startups like Evera Cabs are well-positioned for long-term success. The latest funding round is expected to help Evera scale faster, enhance customer experience, and strengthen its market presence in India’s evolving EV ride-hailing landscape.
In summary, Evera Cabs’ $4 Mn funding from Mufin Green Finance marks a pivotal step in its journey toward sustainable urban transportation. With its no-surge, no-cancellation promise and growing B2B and B2C customer base, Evera is steering the future of clean mobility in the right direction.
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