Evage Raises $28M To Be A Driving Force In India’s Commercial Ev Revolution

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The startup, which has already supplied five EV trucks to Amazon India’s Delivery Service Partner and plans to provide “in the thousands” more by the end of the year, according to one investor, has just raised a $28 million seed round, led by new U.S.-based VC RedBlue Capital. The truck is developed on EVage’s industry-ready EV platform that the company says allows it to build multiple different types of high quality vehicle at a far lower cost than other OEMs. The startup plans to manufacture vehicles in “Modular Micro Manufacturing” factories, similar to Arrival’s microfactories, which should have smaller carbon footprints and require less capital to produce vehicles than traditional OEMs. Those companies, alongside national and local delivery companies, are looking to partner with Indian OEMs that can meet the unique demands of an Indian market. EVage will use the funds to complete its production-ready factory outside of Delhi in first quarter of 2022 and scale up production to meet growing demand.