EVage Raises $28 Million In Seed Funding For US’ RedBlue Capital

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EVage is supplying EV trucks to major delivery fleets such as Amazon India’s Delivery Service Partner

Electric commercial vehicle startup EVage has raised $28 million from US-based venture capital firm RedBlue Capital.

The seed-round funding will help the mobility tech startup complete its production-ready factory outside of Delhi in FY2022-23 and scale up production, said the startup.

EVage is supplying EV trucks to major delivery fleets such as Amazon India’s Delivery Service Partner.

“When we pioneered our highly adaptive and modular multi-vehicle platform in 2014, it was a journey into the unknown. The success of new global OEMs and their impact on electrifying transport in the US and Europe is a testament to what we can do in India and other price-sensitive countries,” said Inderveer Singh, Founder and CEO, EVage.

EVage’s first vehicle, the Model .X, is a one-tonne truck designed for the commercial delivery vehicle market, and is undergoing a seismic shift towards electrification.

The startup also claims to have created India’s first electric vehicle (EV) which can serve as an affordable common architecture for SUVs, vans, delivery vehicles and trucks. The Model .X is built on the same structure.

“The fact that such an innovative product is being used today by major fleet customers makes EVage a clear standout in their field – this is the team that’s actually delivering,” said Prescott Watson, General Partner at RedBlue Capital.

Singh said that they are aggressively hiring from the top automotive and aerospace companies in India and globally.

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