Electric vehicle startup EVage raises funds from mobility veteran

EVage Ventures Pvt Ltd, an electric vehicle startup, has raised funding by mobility veteran from Ola Electric Co-Founder and Senior Advisor, Anand Shah along with BryAir Director, Varun Pahwa and  DMI Group partner, Anmol Nayyar.

The three investors have invested an undisclosed amount in the mobility tech startup, which is set to help EVage launch its 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," said Anand Shah, Co-Founder and Senior Advisor, Ola Electric.

"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," Shah added. 

The four-wheeler electric delivery van will be launched this year itself for commercial applications.

EVage's team includes experts from Aerospace, Automotive Design, and Battery Manufacturing industries focused on addressing the specific mobility needs of India's rapidly growing logistics and e-commerce segments.

EVage claims the key differentiator in their approach towards building a 'new-age' automobile company is that they have built and designed EVs like one would look at manufacturing aerospace structures.

"We are working hard to make it easy for vehicle-dependent businesses to leverage clean mobility with purpose-built products," said Inderveer Singh, Founder & CEO of EVage.

"It is our privilege to have a visionary in the EV and mobility industry, Anand Shah, guiding us in this journey. 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," Singh added.