Prakriti E-mobility secures investment from IEG Principal Investments and Devonshire Capital to expand its electric vehicle platform in India and Southeast Asia.

Target Information

Prakriti E-mobility, founded in 2019, is an innovative asset-light electric vehicle (EV) aggregator operating under the brand name ‘Evera’ in India. The company specializes in providing sustainable transportation solutions for both B2B and B2C segments, emphasizing intercity travel. Currently, Prakriti operates 168 electric vehicles and has established 36 charging stations, leveraging cutting-edge technology to advance electric mobility while minimizing environmental impact.

Prakriti positions itself as a leader in the evolving mobility sector in India, addressing the increasing demand for electric transportation spurred by rising urbanization and incomes. The company has seamlessly combined technology with an environmentally sustainable approach, making it a compelling player in the ESG landscape despite economic challenges posed by the COVID-19 pandemic.

Industry Overview in India

The electric mobility sector in India is undergoing rapid transformation, driven by government policies and increasing consumer awareness of sustainable transportation. With a growing middle class and urban population, the demand for