Delhi-based electric taxi service provider Evera Cabs has raised $4 million in fresh funding from Mufin Green Finance. The investment was secured through a hybrid structure that includes both convertible debentures and debt financing.
This new capital infusion follows Evera’s earlier $7.14 million seed round led by IEG and other investors. The funds will be directed towards scaling the company’s electric vehicle (EV) fleet, reinforcing Evera’s mission to promote sustainable mobility in India.
Founded in 2019 by Vikas Bansal, Rajeev Tiwari, and Nimish Trivedi, Evera Cabs operates under the umbrella of Prakriti E-Mobility, a company dedicated to sustainable energy solutions. Through its app-based platform, Evera provides a safe, reliable, and eco-friendly commuting experience for both individual and corporate customers.
In the B2B segment, Evera serves a growing list of corporate clients, while its B2C operations are primarily focused on airport travel services. The company’s no-cancellation and no-surge pricing policies ensure a transparent and dependable travel experience, setting it apart from other mobility service providers.
Nimish Trivedi, Co-founder and CEO of Evera, emphasized the company’s vision:
“At Evera, our core focus has always been delivering a clean-tech-powered, seamless, and disruption-free commuting experience. This funding will enable us to further strengthen our fleet and accelerate the adoption of sustainable transportation.”
In May 2025, Evera made headlines by initiating the repossession of 500 electric cabs that were previously operated by BluSmart, following BluSmart’s operational halt in major metro cities. Capitalizing on this opportunity, Evera announced plans to expand its airport-centric network, aiming to offer its services across all terminals at Delhi’s Indira Gandhi International Airport.
With this latest funding, Evera Cabs is well-positioned to enhance its market footprint, contribute to the reduction of carbon emissions, and support the growing shift towards clean mobility solutions in India.