Indian electric vehicle company EVage raises $28 million
The Indian electric vehicle company EVage just raised a $28 million seed round aimed to help the firm build delivery trucks for companies including Amazon's partner in the country.
Driving the news: The U.S.-based, mobility-focused VC firm RedBlue Capital led the funding round, and its aimed at enabling EVage to complete a factory outside of Delhi, the announcement states.
Why it matters: Electrification is a way to help curb emissions from the growing e-commerce sector.
- Major players in the delivery and logistics industries — including Amazon and FedEx — are increasingly ordering electric delivery vans.
- TechCrunch has a detailed look at the EVage financing and plans.