Evera Cabs, a Delhi-based all-electric cab service, has secured $4 million in funding from Mufin Green Finance. The funding comes through a hybrid model that includes convertible debentures and debt, and will be used to scale up Evera’s electric vehicle fleet and expand its airport operations.
The company recently acquired part of BluSmart’s vehicle inventory and is now focusing on strengthening its airport services. Earlier operating only from Terminal 3 of the Delhi airport, Evera now plans to extend operations to Terminal 1. Currently, airport rides account for 55 percent of Evera’s total bookings, with the average trip cost around ₹600. The platform reported a six-fold increase in airport rides compared to April.
So far, Evera has added over 600 EVs to its fleet, including Tata Tigor, Citroën, and MG ZS EV models. The company plans to acquire 1000 more vehicles from BluSmart.
Nimish Trivedi, co-founder and CEO of Evera, said, “Our strategic partnership with Mufin Green Finance marks a pivotal step in scaling sustainable electric mobility. Their backing empowe₹us to accelerate the deployment of EVs and strengthen our operational backbone. Our recent acquisition of BluSmart’s fleet and driver network further enhances our capability to help corporate multinational corporations (B2B) meet their carbon reduction targets and to deliver no cancellation and no surge airport transfer services for individuals (B2C).”
Kapil Garg, founder and CEO of Mufin Green Finance, added, “Evera’s vision for scalable, customer-first electric mobility perfectly aligns with our mission to democratise access to green transportation. Our investment goes beyond capital—it represents a strategic collaboration to strengthen India’s EV ecosystem. By supporting Evera’s all-electric fleet and robust service model, we are actively enabling the shift towards cleaner, smarter and more sustainable urban transit.”
Evera is targeting ₹100 crore in revenue for the financial year 2025–26, a significant jump from ₹18 crore in 2024–25.
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