Zevo, a homegrown electric vehicle (EV) mobility platform, has successfully raised $2 million in a pre-Series A funding round. The funding was led by Pegasus India Fund, along with BizDateUp, JIIF, and a Family Office.

This fundraising marks a significant milestone in Zevo's efforts to expand its eco-friendly electric vehicle fleet and develop innovative infrastructure across India.

The startup plans to utilize the funds to deploy 5,000 electric vehicles and expand the existing fleet. These vehicles will be integrated into various delivery operations, with a focus on improving efficiency and promoting sustainability.

Aditya Singh Ratnu, CEO of Zevo, expressed his confidence in the impact they will have in the EV industry, stating, "This investment is a testament to the confidence investors have in our vision and the significant impact we will have in the EV industry." He also added, "Using these funds, we aim to accelerate the company's growth, enhance technological capabilities, and expand our scale."

Dhruv Bhatia, co-founder of Zevo, also mentioned plans to raise additional funds, stating that Zevo is in talks to raise $20 million by January 2025.