<ul data-eligibleForWebStory="true"><li>EV ride hailing startup Evera Cabs secures $4 Mn from Mufin Green Finance through convertible debentures and debt.</li><li>The investment aims to enhance customer experience with a focus on clean tech and seamless commuting.</li><li>Evera Cabs recently acquired BluSmart's fleet and driver network, expanding its B2B and B2C services.</li><li>Founded in 2019, Evera Cabs offers EV ride hailing services with no cancellation and surge charges.</li><li>The startup currently operates with a fleet of 450 EV cabs, aiming to expand to 1,000 BluSmart EVs.</li><li>Previous funding rounds included a $7 Mn pre-Series A funding led by international investors.</li><li>The EV ride-hailing sector faced challenges with the downfall of BluSmart, affecting drivers and employees.</li><li>Issues arose with Gensol Engineering promoters using company funds for personal investments.</li><li>Evera Cabs caters to corporate clients such as EY and Orix while competing with Ola and Uber in the EV ride-hailing market.</li><li>The Indian EV market is expected to reach nearly $114 Bn by 2029, providing growth opportunities for companies like Evera.</li><li>The article is sourced from Inc42 Media.</li></ul>

EV Ride Hailing Startup Evera Bags $4 Mn From Mufin Green Finance

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