The raised funds will be strategically allocated towards EVINDIA product development, business expansion, supporting the community, and building a creator economy.
EvolveX accelerator, a startup accelerator spearheaded by a global community of successful founders & strategic angels, We Founder Circle (WFC), has announced its recent undisclosed investment in a Pre-Seed round of EVINDIA, an influencer-driven social commerce platform for EV two-wheeler buyers.
EVINDIA emerged as a prominent startup from EvolveX’s Cohort 2 launched in September 2022. The investment was led by EvolveX Accelerator, with prominent investors including Neeraj Tyagi, Gaurav VK Singhvi, and Vikas Aggarwal, who demonstrated their unwavering faith in EVINDIA’s innovative concept. The successful pre-seed funding round laid a solid foundation for EVINDIA’s growth, allowing them to further enhance their offerings and expand their operations.
Ahmedabad-based EVINDIA is currently collaborating with renowned brands and their dealers, including OLA Electric, Tork Motors, HOP Electric, and TVS. As the startup enters its next phase of development, it is actively seeking funding in their current bridge round with a target of raising INR 1.25 Crore. The raised funds will be strategically allocated towards product development, business expansion, supporting the community, and building a creator economy.
Commenting on the investment, Bhawna Bhatnagar, Co-Founder of EvolveX, expressed her affirmation, stating, “EV is an emerging sector in India with 2-wheeler driving bigger pie in it. Platform like EVINDIA bringing lot of innovation for the consumer to make their firm decision of buying their first 2-Wheeler. Tarpan Vyas and his team have demonstrated exceptional vision and expertise in creating a platform that simplifies and enhances the EV ownership experience. At EvolveX, we firmly believe in their potential to make a significant impact in this space”.
Tarpan Vyas is a seasoned professional with over a decade of experience in high-growth, VC-backed startups and building communities at a national scale. Vyas envisions transforming how Indians choose, own, and experience electric vehicles through EVINDIA’s platform. The platform is dedicated to providing an uncompromised EV ownership experience to its community of EV owners.
On the fundraise, Tarpan Vyas, Founder and CEO of EVINDIA affirmed “We are deeply gratified by the unwavering trust shown by one of India’s prominent investors during the idea stages of our journey. Being alongside their esteemed portfolio of EV startups is truly inspiring, and their unwavering support over the past year has been pivotal in our transformative 0 to 1 journey. As we embark on the next phase of EVINDIA, we eagerly rely on their continued guidance and backing.”
EvolveX Accelerator’s investment in EVINDIA underscores its commitment to fostering innovative startups and driving the growth of the Indian startup ecosystem. With their support, EVINDIA is poised to disrupt the electric vehicle market and accelerate the adoption of sustainable transportation solutions in India.
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