JSW Ventures Invests $2.5 Million In MoEVing For Electric Mobility

MoEVing Technology Platform

JSW Ventures has invested $2.5 million in the electric mobility tech platform MoEVing. The company will use the funds to enhance its electric mobility platform for the driver partners in India.

According to the company, it will also use the capital raised for expansion in multiple Indian cities and build a team of technologists across all functions. MoEVing now has $10 million in total funding.

“MoEVing’s approach to the Indian market is holistic and places the driver at the core of its service proposition. The company’s full-stack platform approach is unique and has global relevance to support the acceleration of EV adoption across sectors. Our investment recognizes the opportunity for MoEVing to grow exponentially by capitalizing on the early EV wave as Indian businesses transition their supply chain to electric mobility,” said Sachin Tagra, partner at JSW Ventures.

“We provide assured demand, backed by long-term contracts, to drivers and small fleet operators, charging services, affordable financing solutions customized for EV needs, and other related services all on one platform. By doing so, it is easy and profitable for drivers that use our platform to own and operate EVs,” said Mragank Jain, co-founder, and chief strategy officer at MoEVing.

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Vikash Mishra is the Co-Founder and CEO of MoEVing. He stated that India has the potential to be an “EV First” country. A complete rethinking the transportation system will be required in order to make EVs a reality. This is a process that must happen from scratch. MoEVing is working in the commercial EV space because we believe that EV adoption can be driven by commercial transport, particularly in the last mile.

MoEVing is a company that aims to reduce carbon emissions in commercial transportation, particularly in the last mile. In the near future, MoEVing expects to reduce carbon emissions by nearly 1,000 tonnes of carbon dioxide.

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