Evera Cabs Secures $4 Million in Funding from Mufin Green Finance to Fuel Expansion -

Pioneering the Future of Electric Mobility

In a significant boost to India’s clean mobility revolution, Evera Cabs, a Delhi-based electric vehicle (EV) ride-hailing startup, has successfully raised $4 million (₹34.45 crore) in funding from Mufin Green Finance. The investment includes a mix of convertible debentures and debt, underscoring investor confidence in Evera’s green transport mission.

Key Highlights of the Investment

Funding Amount: $4 million (₹34.45 crore)
Funding Type: Convertible debentures + debt
Investor: Mufin Green Finance
Fleet Expansion: +1,000 BluSmart EVs
Focus Area: Airport-centric services in Delhi NCR
Projected Revenue: ₹100 crore in FY25

Strategic Expansion to Meet Growing Demand

With this fresh round of funding, Evera Cabs is gearing up for an ambitious scale-up:

Addition of 1,000 electric cabs to its current EV fleet
Enhanced airport ride services, currently comprising 55% of its bookings
Strengthened B2C and B2B offerings with greater vehicle availability and reliability

This move supports Evera’s strategy to build a robust, sustainable urban mobility solution that addresses growing congestion and pollution in India’s metros.

What Sets Evera Apart in the EV Ride-Hailing Market

Founded in 2019 by Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal, Evera Cabs is fast becoming a household name in EV-based transportation.

Customer-First Features That Drive Loyalty

✅ No Surge Pricing – Fixed and predictable fares at all times
✅ Zero Cancellations – Drivers cannot cancel confirmed rides
✅ EV-Only Fleet – 100% electric vehicles, contributing to cleaner cities
✅ Dual Focus – Serving both individual customers (B2C) and corporate clients (B2B)
✅ Airport-Centric Excellence – Leading share in eco-friendly airport transfers in Delhi NCR

These differentiators help Evera deliver a premium, disruption-free commuting experience, winning over customers and partners alike.

Backing from Mufin Green Finance: A Strategic Partnership

Mufin Green Finance, a leading player in green-focused financial lending, brings not only capital but also strong strategic alignment. Their investment is more than a financial push—it’s an endorsement of Evera’s sustainable mission and growth model.

“Our investment in Evera aligns with our vision of supporting clean-tech leaders in transforming Indian mobility. Their commitment to zero-emission rides and customer satisfaction makes them a standout player,” said a spokesperson from Mufin Green Finance.

Vision for the Future: ₹100 Crore Revenue Target in FY25

The funding will help Evera gear up to hit a major milestone: ₹100 crore in annual revenue by the end of the current fiscal year. This growth will be powered by: