Evera Cabs Secures $4mn From Mufin Green Finance For Expansion

Evera Cabs Secures $4mn From Mufin Green Finance For Expansion

Evera Cabs, an all-electric taxi service based in India, has raised $4 million in funding from Mufin Green Finance to support the expansion of its electric vehicle (EV) fleet, the company said on Tuesday.

The funding was raised through a hybrid structure of convertible debentures and debt. Evera said the investment would accelerate the deployment of EVs and enhance its operational capacity, particularly following the recent acquisition of BluSmart’s fleet and driver network.

“This partnership with Mufin Green Finance is a key milestone in scaling sustainable electric mobility,” said Nimish Trivedi, Co-founder and CEO of Evera. “It allows us to strengthen both our corporate (B2B) services and airport-focused (B2C) offerings, including surge-free and zero-cancellation rides.”

Evera, operated by Prakriti E-Mobility, currently runs its services out of Indira Gandhi International Airport in Delhi. It serves both corporate clients and individual passengers, with a focus on offering clean, reliable urban mobility.

Mufin Green Finance said the investment was aligned with its mission to promote access to green transportation.

“Evera’s vision of customer-first electric mobility complements our goal of enabling a cleaner, smarter urban transport system,” said Kapil Garg, Founder and CEO of Mufin Green Finance.

With the capital infusion and integration of BluSmart assets, Evera aims to expand its presence in the growing EV market and reinforce its position as a key player in India’s green mobility sector.