About Evify
Evify is a company based in Surat (India) founded in 2021 by Vineet Mittal, Devrishi Arora, Pragya Mittal, Aditya Singhania, and Saurabh Aggarwal. It operates as a B2B2C, and Green Energy-as-a-Service. Evify has raised $2.25 million across 4 funding rounds from investors including We Founder Circle, Gujarat Venture Finance and IVY Growth Associates. The company has 40 employees as of April 07, 2024. Evify offers products and services including Eveeto. Evify operates in a competitive market with competitors including Zypp Electric, 3eco, MoEving, BluWheelz and Pickkup, among others.
- Headquarter Surat, India
- Employees 40 as on 07 Apr, 2024
- Founders Vineet Mittal, Devrishi Arora, Pragya Mittal, Aditya Singhania, Saurabh Aggarwal
- Stage Minicorn
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Sectors
Transportation, Automotive & LogisticsRetail
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Email
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Phone
*********
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Website
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Social
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- Legal Name Evify Logitech Private Limited
- Date of Incorporation 09 Jul, 2021
- Jurisdiction Surat, Gujarat, India
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Annual Revenue
$127.53 K (USD)1293.47as on Mar 31, 2023
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Net Profit
$-272.67 K (USD)-942.93as on Mar 31, 2023
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EBITDA
$-257.28 K (USD)-920.56as on Mar 31, 2023
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Total Equity Funding
$2.25 M (USD)
in 4 rounds
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Latest Funding Round
$1.3 M (USD), Seed
Jan 05, 2024
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Investors
We Founder Circle
& 39 more
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Employee Count
40
as on Apr 07, 2024
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Products & Services of Evify
Evify offers a comprehensive portfolio of products and services, including Eveeto. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Electric vehicle logistics service for B2B delivery needs.
Funding Insights of Evify
Evify has successfully raised a total of $2.25M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $1.3 million completed in January 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 Total Funding
- Total Rounds 4
- Last Round Seed — $1.3M
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First Round
First Round
(04 Jul 2022)
- Investors Count 40
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2024 | Amount | Seed - Evify | Valuation | Gujarat Venture Finance , Piper Serica | |
| Mar, 2023 | Amount | Seed - Evify | Valuation | We Founder Circle | |
| Jan, 2023 | Amount | Seed - Evify | Valuation | We Founder Circle |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Evify
Evify has secured backing from 40 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include We Founder Circle, Gujarat Venture Finance and IVY Growth Associates. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are made in Indian startups across multiple sectors.
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Founded Year | Domain | Location | |
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Private equity fund investing in multiple sectors
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Founded Year | Domain | Location | |
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Investment in early-stage startups and global community support.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Evify
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Evify
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Evify Comparisons
Competitors of Evify
Evify operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zypp Electric, 3eco, MoEving, BluWheelz and Pickkup, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric vehicles are supplied for last-mile delivery and rental needs.
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| domain | founded_year | HQ Location |
Hyper-local connectivity solutions are delivered for enterprise last-mile fulfillment.
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| domain | founded_year | HQ Location |
Electric mobility solutions are provided for logistics last-mile deliveries.
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| domain | founded_year | HQ Location |
Electric vehicle fleets are provided for last-mile logistics operations.
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| domain | founded_year | HQ Location |
End-to-end logistics solutions are delivered using an electric fleet.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Evify
Frequently Asked Questions about Evify
When was Evify founded?
Evify was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Evify located?
Evify is headquartered in Surat, India. It is registered at Surat, Gujarat, India.
Who is the current CEO of Evify?
Devrishi Arora is the current CEO of Evify. They have also founded this company.
Is Evify a funded company?
Evify is a funded company, having raised a total of $2.25M across 4 funding rounds to date. The company's 1st funding round was a Seed of $549.99K, raised on Jul 04, 2022.
How many employees does Evify have?
As of Apr 07, 2024, the latest employee count at Evify is 40.
What is the annual revenue of Evify?
Annual revenue of Evify is $127.53K as on Mar 31, 2023.
What does Evify do?
Evify is engaged in providing B2B delivery services using electric vehicles. Operations are focused on green logistics, aiming for carbon-negative impact. The Eveeto platform is utilized for EV acquisition, maintenance, and client delegation. Services are offered across multiple cities in India, ensuring timely deliveries through a tech-driven approach. The company is positioned in the sustainable transportation sector.
Who are the top competitors of Evify?
Evify's top competitors include Zypp Electric, MoEving and Pickkup.
What products or services does Evify offer?
Evify offers Eveeto.
Who are Evify's investors?
Evify has 40 investors. Key investors include We Founder Circle, Gujarat Venture Finance, IVY Growth Associates, Alpha Plastomers, and Piper Serica.
What is Evify's valuation?
The valuation of Evify is $6.44M as of Jan 2024.