Deal Details

We are building a SaaS + Hardware solutions that allows fleets to deploy and manage electric vehicles. The economics of using EVs have started to make sense in fleet and commercial vehicle applications - they can save up to 40% on their cost of ownership by using EVs (vis-a-vis ICE vehicles). Our tech stack allows fleets to realize these cost benefits while eliminating downtime associated with operating EVs. 

The stack comprises of a battery swapping station hardware and a modular SaaS platform that provides real time, actionable insights into the electric vehicle charging, maintenance and operations.

We went live with our products in June 2020 with 50+ fleet EVs being managed via the platform. Some of our customers include Lightning Logistics (India's largest 3PL EV fleet), Zypp and Powerhive. We have revenues of Rs. 10 lakhs for our platfrom and are projected to hit a revenue of Rs. 30 lakhs in FY-21.

We expect to manage ~1000+ vehicle assets on the platform by FY-22 with deployments in the Indian and European markets. 

Given the economics of using EVs in fleet applications and the growth of fleets in use cases like last mile delivery, we expect an exponential growth in the use of EVs in fleet and commercial vehicle applications over the next 5 years. We aim to be the premier solutions technology solutions provider for fleet electrification.