Jan 14, 2022 - Energy & Environment

Indian electric vehicle company EVage raises $28 million

An electric vehicle pump with a dollar sign.

Illustration: Aïda Amer/Axios

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.
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