ENVI announces closure of its seed round

July 15, 2022 18:25 IST | ANI Press Release
Tennis player James Blake
ENVI announces closure of its seed round

Bangalore (Karnataka) [India], July 15 (ANI/PNN): Bengaluru-based electric sustainable energy taxi service, ENVI (Malbork Technologies) founded in 2018 by N Sanjeev Kumar raised its seed round from Bestvantage investments and marquee investors. Envi is an environmentally friendly electric vehicle and the city's only app-based B2C EV taxi aggregator service.

According to Sanjeev, founder of ENVI (https://www.malbork.in/#), the funds will be used for the funds will be allocated towards taking cars on lease, taking the EV ecosystem to the next level, and on-boarding new talent to optimize the team for its future goals.

Sanjeev outlined his vision and future outlook for ENVI "We are developing a sustainable transportation paradigm to improve one's quality of life in our communities through the deployment of zero-emission electric vehicles and the employment of low-income community people. We are expanding the number of electric vehicles on the road and producing social value in collaboration with our EV manufacturers, fast charging partners, driver community and local government bodies.

Since 2018, the brand has onboarded close to 100 EVs and saved 40+K of CO2 emissions. ENVI's revenue has grown steadily and in June the brand achieved the highest ever monthly revenue, trips and user addition. The growth is driven by some innovative customer focussed features such as choose your driver, no driver cancellations, sustainability and no surge pricing to name a few.

Recently, Yamaha Motor's Moto Business Service India (MBSI) also invested an unknown sum in B2C cab aggregator Malbork Technologies to enter the electric vehicle segment for four-wheelers. The firm intends to onboard electric automobiles in several cities, providing work possibilities for youth.

"We are proud to collaborate with ENVI and help them close the seed round. We believe deeply in the ethos of sustainability and would want to thank all our investors who supported us in this cause", said Raman Sharma, founder Bestvantage investments.

Bestvantage investments is an investment platform that offers a one-stop solution to all Startup's investment needs by offering investors an opportunity to invest in verified startups that are poised to be the unicorns of tomorrow. Visit https://www.bestvantageinvestments.com/ for more such startups

Contact: (https://www.bestvantageinvestments.com)

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor