[Funding alert] MoEVing closes $5M in seed capital from angels to fuel growth
Summary
The investors in the latest round include DS Brar, Promoter-Chairman, Aragen Life Sciences; Anshuman Maheshwary, COO, IIFL Wealth and Asset Management; Dr Srihari Raju Kalidindi, Executive Director and COO Viyash life sciences; DN Reddy, Managing partner, Vindhya Group; Ashish Goel, Founder, Urban Ladder; Krishnadeva Veerareddy, serial tech entrepreneur; Vijay Dutt, Founder, Citadel Management Consulting; Govind Agarwal; Chaitanya Kamdar, Subodh Gupta and Mukesh Tiwari. Founded in January 2021 by Vikash Mishra (EV Expert, McKinsey, Shell) and Mragank Jain (Standard Chartered Private Equity, AT Kearney), the platform, on the demand side, provides solutions to ecommerce, e-grocery, FMCG, logistics, and D2C companies to optimise their logistics costs and meet their goals of reducing carbon emissions. At the same time, on the supply side, MoEVing works with OEMs, driver cum owners and financial institutions to help address various constraints that are coming in the way of EV adoption. The platform’s holistic solutions allow for the driver cum owners to increase their income levels. According to Founder and CSO, Mragank Jain, MoEVing has a team of over 80 people, with offices in Gurugram, Bengaluru, and other cities.