MoEVing Urban Technologies Private Limited

MoEVing Urban Technologies Private Limited, located in Gurgaon, India, specializes in providing electric vehicle rental services for logistics and last-mile delivery, focusing on sustainable transportation solutions. Founded in 2021 in Haryana, India, MoEVing Urban Technologies Private Limited focuses on electric vehicle rental services for logistics and last-mile delivery. The company has successfully raised INR 200. 000 mn in funding during its Series A round, with JSW Ventures as a key investor.

MoEVing has completed 7 deals, and its latest funding round, held on December 1, 2023, brings its total capital raised to INR 200. 000 mn and a current valuation of INR 83,575. 896 mn. The company is led by Vikash Mishra, who serves as CEO and has a history of entrepreneurship in the electric vehicle space.

MoEVing primarily offers electric vehicle rental services tailored for logistics and last-mile delivery across India. Their core product range includes a diverse fleet of electric pickups (both 3W and 4W models) and electric bikes, all engineered to minimize carbon emissions while facilitating efficient transportation solutions for businesses. MoEVing's innovative technology platform prioritizes driver needs and employs data-driven approaches to enhance operational efficiency, catering to prominent sectors such as e-commerce, logistics, and fast-moving consumer goods (FMCG). The company serves a wide array of clients, including major corporations in these industries, with a particular emphasis on helping them achieve their sustainability objectives.

Their services are available primarily in urban areas of India, where the demand for environmentally friendly logistics solutions is rapidly increasing. In the most recent fiscal year of 2023, MoEVing generated a revenue of INR 4,220,629. 40, with an EBITDA of INR -3,196,604. 60.

MoEVing plans to expedite the electrification of its fleet following the recent funding round held on December 1, 2023. The company aims to enhance its product offerings and expand into new markets within India. The funding will be utilized to meet its capital requirements and accelerate the transition to electric logistics solutions.