Electric mobility tech platform MoEVing raised $2.5 million from JSW Ventures. The funds will be used by the company to further strengthen its electric mobility platform for driver partners across India.
The capital raised will also be used to support the company’s expansion across multiple cities in India, as well as to build a team across functions with a strong emphasis on technology, according to a statement from the company. The latest round of funding brings MoEVing’s total funding to $10 million. The company has a presence in 15 cities and operates 1,500 electric vehicles, including two- and three-wheelers. The company has established over 30 multi-modal charging hubs across the country and has formed partnerships with financial institutions to directly finance individual drivers.