About EvolveX Accelerator
EvolveX Accelerator, an accelerator and incubator program founded in 2021, is based in Surat, India. With a presence in 2 countries, it has supported around 38 startups in sectors like Enterprise Applications, Consumer. Most notable companies in
its portfolio include ParkMate, Ecoratings and Pickkup. The program is backed by a team of 14 people who primarily support Seed startups based in India. Its latest investment was a Undisclosed Seed round in ProjectStudio on Jan 10, 2026, which also saw participation from Modulor Capital and We Founder Circle.
Key Metrics
Founded Year
2021
Location
Surat, India
Portfolio Companies
Sectors of Investment
Stages of Investment
Seed
EvolveX Accelerator's List of Top Investments
EvolveX Accelerator has a portfolio of 38 companies. Their most notable investments are in NIKOL EV and MyEra.Their portfolio spans across India and Germany. They have invested in Enterprise Applications, Consumer, Food and Agriculture Tech and 20 other sectors, across stages such as Seed stage. Here is the list of top investments by EvolveX Accelerator:
1. ParkMate
Provider of technology-enabled solutions for valet and parking management services. The company offers a hybrid system using license plate recognition and software. It provides trained manpower for valet parking, along with a drop and shop service. The company also offers a QR code-based navigation system for parking spots.
Key facts about ParkMate
- Founded Year: 2021
- Location: Noida (India)
- Annual Revenue: ₹5.29Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $1.67M
- Employee Count: 123 as on Jan 31, 2025
- Investors: Venture Catalysts, Z Nation Lab and 74 Others
- Latest Funding Round: Seed, Sep 16, 2025, $*****
2. Ecoratings
AI based ESG ratings and analysis for businesses. It leverages data-driven methods and advanced artificial intelligence to help companies make informed sustainability decisions. It offers AI agents for carbon accounting and tokenization of carbon credits on the blockchain. It specializes in sustainability, AI, LLM, RAG, carbon measurement, reporting, validation, and asset tokenization.
Key facts about Ecoratings
3. Pickkup
Provider of end-to-end logistics solutions through electric delivery fleet. It is a logistics solutions provider specializing in last-mile and mid-mile delivery, bulk transportation, and warehousing. The company's platform offers logistics solutions tailored to customers' needs, featuring real-time tracking and enabling users to monitor their goods in transit.
Key facts about Pickkup
- Founded Year: 2021
- Location: Sahibzada Ajit Singh Nagar (India)
- Annual Revenue: ₹1.73Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $698K
- Employee Count: 11 - 50 as on Jul 01, 2024
- Investors: GSV, EvolveX Accelerator and 17 Others
- Latest Funding Round: Seed, Feb 01, 2025, $*****
Provider of battery storage systems and software for energy management. The company designs application-specific systems, integrating hardware engineering, power electronics, and digital lifecycle intelligence. These systems replace diesel generators, capture curtailed solar energy, and participate in energy markets. The software coordinates battery assets into a unified network for grid services.
Key facts about The Energy Company
- Founded Year: 2021
- Location: Bengaluru (India)
- Annual Revenue: ₹2.32Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Seed
- Total Funding till date: $3.39M
- Employee Count: 59 as on Aug 31, 2025
- Investors: LetsVenture, Faad Capital and 48 Others
- Latest Funding Round: Seed, Dec 30, 2024, $*****
- Highlight: Editors' Pick
Platform for manufacturing and selling sweets. It offers a variety of traditional and contemporary confectionery products made with quality ingredients. The platform focuses on delivering authentic flavors through carefully crafted recipes and packaging.
Key facts about Scandalous Food
EvolveX Accelerator's Year-on-Year Investment Trends
EvolveX Accelerator has invested in 38 companies over the last 4 years, with an average of 8 new investments annually in the last 3 years. In 2025, it made 8 investments, while as of Jan 2026, it has made 1 investment in this year. Its most recent first time investment was in ProjectStudio and most recent follow-on round was in BlackCarrot.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 6 | 2 | 8 |
2024 | 3 | 1 | 4 |
2023 | 15 | 6 | 21 |
2022 | 6 | 0 | 6 |
EvolveX Accelerator's Investments by Stage
EvolveX Accelerator has made 31 investments in Seed stage with an average round size of $157K.EvolveX Accelerator's Investments by Sector
EvolveX Accelerator has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Retail, High Tech and EdTech. Notably, it has invested in 32 Tech companies, 22 Consumer (B2C) companies, 19 Enterprise (B2B) companies and at least 14 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 11 |
Enterprise Applications | 10 |
Retail | 8 |
High Tech | 6 |
EdTech | 5 |
Others | 44 |
Note: We have considered here, only first round of investments
EvolveX Accelerator's Investments by Geography
EvolveX Accelerator has made most investments in India (31).EvolveX Accelerator's recent investments
EvolveX Accelerator has made 1 investments in 2026 so far - ProjectStudio.Here are the most recent investments by EvolveX Accelerator:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 10, 2026 | India | Seed | 9093 | [+2] | |
May 22, 2025 | India | Seed | 5992 | [+5] | |
May 05, 2025 | India | Seed | 9725 | [+3] | |
Apr 30, 2025 | India | Seed | 3432 | [+2] | |
Mar 19, 2025 | India | Seed | 6539 | [+1] |
Team profile of EvolveX Accelerator
EvolveX Accelerator has a team of 14 members including 4 Partners located in India and United States. EvolveX Accelerator's team does not sit on the board of any company as of now.Here is a list of top team members in EvolveX Accelerator:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United States | - | ||
Partner | India | - | ||
Partner | Surat | - | ||
Partner | Noida | - |
Co-investors of EvolveX Accelerator
Over the past 4 years, 410 investors have co-invested in EvolveX Accelerator's portfolio companies. This includes funds and angels.
- Invested before EvolveX Accelerator: We Founder Circle, Gaurav Kumar Mehra and 115 others have invested in rounds before EvolveX Accelerator. There are 4 companies where We Founder Circle has invested before EvolveX Accelerator and 2 companies where Gaurav Kumar Mehra has invested before EvolveX Accelerator.
- Top Co-investors of EvolveX Accelerator: 92 investors entered a company along with EvolveX Accelerator. These include investors like We Founder Circle (23 companies).
- Invested after EvolveX Accelerator: A total of 201 investors have invested in EvolveX Accelerator's portfolio after their investments. Top Investors include Invstt (2 companies) and Venture Catalysts (2 companies).
Recent News related to EvolveX Accelerator
•
•
EvolveX Accelerator unveils its 5th cohort, selecting 7 startups for funding and mentorshipAsian News International•Feb 28, 2025•EvolveX Accelerator
•
•
Indian EdTech Funding Drops 87% Since 2021Dataquest•Sep 05, 2024•LawSikho, upGrad, Eruditus, Unacademy and 7 others
•
•
Maidaan has raised Undisclosed in Seed Funding Round led by IPV & EvolveX.Enablers•Jan 04, 2024•Inflection Point Ventures, EvolveX Accelerator, We Founder Circle, Maidaan and 1 other
•
Himshakti raised $99.8K Pre-seed funding from EvolveXIncubees•Dec 30, 2023•Him Shakti, EvolveX Accelerator, VKJ Projects, Artha Group
•
•
Sustainability assessment startup EcoRatings raises funding from EvolveXIndian Startup News•Dec 29, 2023•Ecoratings, EvolveX Accelerator
•
