About EVage Motors
EVage Motors is a Transportation, Automotive & Logistics company based in Dera Bassi (India) founded in 2014 by Inderveer Singh Panesar and Harnoor Kaur. It manufactures high-quality electric cargo trucks for commercial applications. It operates on a B2B model. EVage Motors has raised $32.91 million across 6 funding rounds from investors including S Chand Group, Bio D Technology and RedBlue. The company has 1 employees. EVage Motors was last valued at $61.49 million in March 2024. Its chief executive, as recorded, is Inderveer Singh Panesar. Its focus areas include Transportation, Automotive, Electric Vehicles and Cargo Truck Manufacturing.
Company details
EVage Motors, established in 2014, excels in providing transportation services, dealing with automotive parts, developing electric vehicles, and cargo truck manufacturing. Manufactures high-quality electric cargo trucks for commercial applications. Committed to advancing standards, it focuses on innovation, efficiency, and delivering value to clients worldwide.
- Headquarters Dera Bassi, India
- Employees 1
- Founders Inderveer Singh Panesar, Harnoor Kaur
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Website evagemotors.com
- Total Equity Funding$32.91M (USD)
in 6 rounds
- Latest Funding Round$131.79K (USD), Seed
Mar 2024
- InvestorsS Chand Group
& 11 more
- Employee Count1
Associated legal entities of EVage Motors
EVage Motors is associated with 3 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Evage Automotive Private Limited CIN U34100CH2020PTC042947 | Active | 04 Mar 2020 | Chandigarh, Chandigarh | ₹33.6 Cr | 136 | 3 | View details |
| Evage Mobility Private Limited CIN U46593CH2020PTC042943 | Active | 02 Mar 2020 | Chandigarh, Chandigarh | 20 | 3 | View details | |
| Evage Ventures Private Limited CIN U34300CH2019PTC042376 | Active | 12 Feb 2019 | Chandigarh, Chandigarh | ₹14.9 Cr | 5 | View details |
Funding Insights of EVage Motors
EVage Motors has successfully raised a total of $32.91M across 6 strategic funding rounds. The most recent funding activity was a Seed round of $131.79 thousand completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $32.91M
- Total Rounds 6
- Last Round Seed — $131,790
- First Round $370,963
(Aug 2019)
- Investors Count 12
All 6 funding rounds of EVage Motors with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2024 | $131,790 | Seed | $61.49M | Bio D Technology | – |
| Jan 2022 | $28M | Seed | $86.58M | RedBlue | |
| Jul 2021 | $3.99M | Seed | $••••• | Maniv Mobility | – |
| Oct 2020 | $313,818 | Seed | $••••• | Bio D Technology | |
| Aug 2020 | $101,013 | Angel Round | $••••• | Anand Shah | |
| Aug 2019 | $370,963 | Angel Round | $••••• | – |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2024 | $61.49M | •••••••• |
| Jan 2022 | $86.58M | •••••••• |
| Jul 2021 | $••••• | •••••••• |
| Oct 2020 | $••••• | •••••••• |
| Aug 2020 | $••••• | •••••••• |
| Aug 2019 | $••••• | •••••••• |
Full valuation and stage history of EVage Motors
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
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Verified entity values are shown only after access is granted.
Last known valuation $61.49M (Mar 2024). 12 investors in total: 6 institutional and 6 angel.
Investors in EVage Motors
EVage Motors has secured backing from 12 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include S Chand Group, Bio D Technology and RedBlue.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments are directed toward early-stage mobility startups by RedBlue. | red.blue | San Francisco, United States | ||
Early-stage tech and offline focused VC firm investing in Israel and the US | maniv.com | Tel Aviv, Israel | ||
Investments in tech startups are managed by Onnivation. | onnivation.in | Mumbai, India | ||
Provider of education print publishing services | 1939 | schandgroup.com | Delhi, India | |
| sairaviaantrading.tcc.mode | ||||
HS Harminder Sahni | Founder of WazirX, prominent crypto angel investor in India | unknown_57945bb837884ccfa | ||
AS Anand Shah | Angel investor, co-founder of Oxyzo, focused on fintech and supply chain finance. | unknown_bc282515115e47c4a | ||
VP Varun Pahwa | unknown_6f06fc49da414daeb | |||
AN Anmol Nayyar | Angel investor and entrepreneur, focusing on early-stage Indian startups. | unknown_f6c06c7eca174bf99 | ||
VT Vasundara Thakur | unknown_b5518776a9f44b578 |
Investor details for EVage Motors
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
Board of directors of EVage Motors
The boards of the 3 registered companies of EVage Motors currently have 6 directors; the longest-serving is Inderveer Singh Panesar, appointed in 2019. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Inderveer Singh Panesar DIN 08360073 | Director | 12 Feb 2019 | 7 yrs 8 mo | Evage Ventures Private Limited, Evage Mobility Private Limited, Evage Automotive Private Limited |
| Pulkit Srivastava DIN 08544708 | Director | 26 Aug 2019 | 7 yrs 1 mo | Evage Ventures Private Limited, Evage Mobility Private Limited, Evage Automotive Private Limited |
| Harnoor Kaur DIN 08360074 | Director | 02 Mar 2020 | 6 yrs 7 mo | Evage Mobility Private Limited, Evage Automotive Private Limited |
| Prescott Mathis Watson DIN 09135303 | Nominee Director | 21 Dec 2021 | 4 yrs 10 mo | Evage Ventures Private Limited |
| Anmol Avinash Nayyar DIN 02220865 | Director | 21 Dec 2021 | 4 yrs 10 mo | Evage Ventures Private Limited |
| Yonatan Olaf Sakkers DIN 10112145 | Director | 11 Apr 2023 | 3 yrs 6 mo | Evage Ventures Private Limited |
People of EVage Motors
6 people are tracked at EVage Motors (5 in leadership, 1 in team); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder, CEO | Leadership | |
| Co-Founder | Leadership | |
| Founder, CEO | Leadership | |
Dinesh Shyamsundar | CTO | Leadership |
Sandeep Sharma | Head, Design | Leadership |
Pravin Subba | HR Leader | Team |
Complete people profiles for EVage Motors
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of EVage Motors
Figures of Evage Ventures Private Limited, the primary company behind EVage Motors, for FY 2024. Revenue was ₹14.87 Cr (+27% year on year). Net loss was -₹39.43 Cr (-963% margin). EBITDA was -₹28.39 Cr (-693% margin). Revenue has grown at a compounded annual rate of +408% over three years.
- ₹14.87 CrRevenue · FY 2024 · +27% YoY
- -₹39.43 CrNet loss · -963% margin
- -₹28.39 CrEBITDA · -693% margin
- ₹5.7 LakhPaid-up capital
- +408%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Evage Ventures Private Limited are on its company page.
Detailed financial statements for EVage Motors
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of EVage Motors
4 dated milestones of EVage Motors across 10 years, from founding to its latest funding, stage changes and deals.
- Founded EVage Motors is founded.
- Funding First funding round of $371K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $132K.
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Related news about Evage Motors
Complete news archive for EVage Motors
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Frequently Asked Questions about EVage Motors
EVage Motors was founded in 2014 and raised its 1st funding round 5 years after it was founded.
EVage Motors is headquartered in Dera Bassi, India. It is registered at Dera Bassi, Punjab, India.
Inderveer Singh Panesar is the CEO of EVage Motors, as recorded in our data. They have also founded this company.
EVage Motors is a funded company, having raised a total of $32.91M across 6 funding rounds to date. The company's 1st funding round was a Angel Round of $370.96K, raised on Aug 2019.
EVage Motors has 1 employees.
EVage Motors, established in 2014, excels in providing transportation services, dealing with automotive parts, developing electric vehicles, and cargo truck manufacturing. Manufactures high-quality electric cargo trucks for commercial applications. Committed to advancing standards, it focuses on innovation, efficiency, and delivering value to clients worldwide.
EVage Motors has 12 investors. Key investors include S Chand Group, Bio D Technology, RedBlue, Harminder Sahni, and Maniv Mobility.
The valuation of EVage Motors is $61.49M as of Mar 2024.
EVage Motors is associated with 3 legal entities: Evage Ventures Private Limited, Evage Mobility Private Limited, Evage Automotive Private Limited.
The legal entities of EVage Motors currently have 6 directors, including Pulkit Srivastava, Inderveer Singh Panesar, Prescott Mathis Watson and others.