Mufin Green invests $4 million in Evera Cabs to expand EV fleet

App-based service, Evera Cabs, has received $4 million investment from Mufin Green Finance Pvt. Ltd to complement Evera’s vision to widen the electric vehicle EV) lineup in India. The investment was injected through a combination of convertible debentures and debt.

Nimish Trivedi, Co-founder and CEO of Evera Cabs, said, “Our strategic partnership with Mufin Green Finance is pivotal in scaling sustainable electric mobility. This support enables us to expedite EV deployment and strengthen our operational infrastructure,” Express Drives reported. He further underlined that the company’s takeover of BluSmart’s driver network and fleet has improved Evera’s service for individuals and corporations, offering no cancellation charges or any surge charges.

He further added, “This expansion reflects a deliberate strategy to reshape India’s EV landscape with agility and purpose. Our zero-cancellation policy and commitment to surge-free fares underscore our customer-first philosophy, ensuring consistent, reliable service for every passenger,” Express Drives reporter further said.

With this most recent round of financing, Evera is well-positioned to spearhead the next expansion in India's quickly developing electric vehicle market. Evera is better equipped to handle the increasing demand for reliable and sustainable urban transportation options, thanks to the integration of BluSmart's top-notch fleet and skilled driver network, the report added. 

Currently based out of Delhi's Indira Gandhi International Airport, Evera, a division of Prakriti E-Mobility, provides a clean-tech-powered commute. The business offers no surge fee and a zero cancellation policy to both B2B corporate clients and B2C airport travellers.