When was Evify founded?

Evify was founded in 2021 and raised its 1st funding round 1 year after it was founded.

Where is Evify located?

Evify is headquartered in Surat, India. It is registered at OFFICE NO. 809 & 810, 8TH FLOOR, TITANIUM BUSINESS HUB, OPP. AKASH EMPIRE, BHIMRAD ROAD, Surat, SURAT, Gujarat, India, 395017.

Who is the current CEO of Evify?

Devrishi Nareshkumar Arora of Evify. They have also founded 1 company and are an angel investors in 1 startup.

Which legal entities is Evify associated with?

Evify is associated with EVIFY LOGITECH PRIVATE LIMITED.

How many employees does Evify have?

As of Aug 31, 2025, the latest employee count at Evify is 38.

Is Evify a funded company?

Evify is a funded company, having raised a total of $2.68M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Jul 04, 2022.

How much is Evify worth?

The latest valuation of Evify is $***** as of Mar 18, 2026.

When was the latest funding round of Evify?

Evify's latest funding was a $***** Seed round on Jan 27, 2026, with participation from 0 investor.

What is the annual revenue of Evify?

Annual revenue of Evify is less than ₹10 Cr as on Mar 31, 2026

Where does Evify rank among its competitors?

Evify ranks 10th amongst 93 active competitors, of which 23 are funded. It stands 9th in terms of total funding among its competitors. The most recent competitor to raise funding was TOCAL, which secured $945K in Jul, 2026.

Who are the top competitors of Evify?

Evify's top competitors include Workhorse Group, deliver better and Standard Fleet. Among them, TOCAL secured the most recent funding round in July, 2026.

Evify - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Provider of electric vehicle fleet for business-to-business delivery services. The company focuses on acquiring and maintaining electric vehicles. These vehicles are delegated to clients based on their delivery needs. A technology platform governs the process to ensure deliveries are completed in a timely manner.

Website: evify.co.in
Social
Email ID: *****@evify.co.in
Phone Number: +91 **********
Registered Address: OFFICE NO. 809 & 810, 8TH FLOOR, TITANIUM BUSINESS HUB, OPP. AKASH EMPIRE, BHIMRAD ROAD, Surat, SURAT, Gujarat, India, 395017

Key Metrics

Founded Year

2021

Location

Surat, India

Stage

Seed

Total Funding

$2.68M in 5 rounds

Latest Funding Round

Seed, Jan 27, 2026, $*****

Post Money Valuation

$***** as on Mar 18, 2026

Investors

Gujarat Venture Finance & 52 more

Ranked

10^th among 93 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2026

Employee Count

38 as on Aug 31, 2025

Similar Companies

Workhorse Group & 116 more

View Evify's full profile

Evify is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
EVIFY LOGITECH PRIVATE LIMITED CIN: U62013GJ2021PTC123993 , India, Active	Jul 09, 2021	0 - ₹10 Cr (As on Mar 31, 2026)	22 (As on Apr 01, 2026)

Evify has raised a total funding of $2.68M over 5 rounds. Its first funding round was on Jul 04, 2022. Evify has 16 institutional investors and 37 angel investors.

Here is the list of recent funding rounds of Evify:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 27, 2026	2774171	Seed	3787792	1331135	7528374	7362324
Mar 08, 2025	4288100	Seed	1607925	8465220	9467419	Pragya Vineet Mittal
Jan 05, 2024	5091556	Seed	5941897	7322968	Gujarat Venture Finance & 2 more	IVY Growth Associates & 12 more

Access funding benchmarks and valuations. Sign up today!

View details of Evify's funding rounds and investors

The founders of Evify are Vineet Mittal, Pragya Vineet Mittal, Devrishi Nareshkumar Arora and Saurabh Aggarwal. Devrishi Nareshkumar Arora is the CEO of Evify.

Here are the details of Evify's key team members:

Vineet Mittal: Co-Founder & Director of Finance of Evify and founder of 3 other companies, Navitas Solar, Navitas Solar and Renon. They are also an angel investor in 1 startup and serve on the boards of 2 companies.
Contact Info: 4 email addresses and 1 phone number
Pragya Vineet Mittal: Co-Founder & CFO & COO of Evify. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Devrishi Nareshkumar Arora: Co-Founder & CEO of Evify. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Saurabh Aggarwal: Co-Founder of Evify.

Evify's Board of Directors

Evify's board has 3 active members. Pragya Vineet Mittal, Devrishi Nareshkumar Arora and Saurabh Rajan Nair are part of team.

Here is the list of Evify's board of directors:

Name	Type	Representing	Status	Duration
Devrishi Nareshkumar Arora	Team	-	Current	5y 3m
krrdyzr	Team	-	Past	4y 5m
Saurabh Rajan Nair	Investor	-	Current	1y 3m

View details of Evify's Founder profiles and Board Members

Evify's employee count trend

Evify has 38 employees as of Aug 25. The total employee count is 33.0% lower than what it was in Aug 24. Here is Evify's employee count trend over the years:

Uncover Evify's growth story! Sign up today!

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

Top competitors of Evify include Workhorse Group, deliver better and Standard Fleet. Here is the list of Top 10 competitors of Evify, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Workhorse Group 2007, Cincinnati (United States), Public	Manufacturer of electric vehicles and related components for transportation solutions	$35.8M	ARK Investment Management, Marathon Asset Management ... & 4 others	68/100
2nd	deliver better 2016, Ottawa (Canada), Series A	Platform offering last-mile delivery services through electric vehicle fleet	$23.5M	Builders VC, CEMEX Ventures & 10 others	62/100
3rd	Standard Fleet 2021, Walnut (United States), Series A	SaaS-driven provider of EV fleet management solutions	$20M	Canvas Ventures, Alex and Bart's Angel Fund ... & 25 others	61/100
4th	3eco 2020, Bengaluru (India), Series A	A company specializing in hyper-local connectivity solutions for enterprise customers to ensure last-mile fulfillment	$17.3M	Oca EV, Bhishma Realty Ltd. & 38 others	59/100
5th	Zyngo 2019, Gurugram (India), Seed	Provider of electric vehicles for last-mile delivery and hyperlocal operations	$5.6M	Deltacorp, Three Wheels United & 3 others	57/100
6th	FYN Mobility 2013, Bengaluru (India), Seed	Provider of electric vehicle logistics and fleet management technology services	$7.53M	SiriusOne, GAIL & 207 others	50/100
7th	TOCAL 2021, Bengaluru (India), Seed	Provider of technology-driven electric vehicle delivery infrastructure for businesses	$945K	XB Group, Navyug Global & 2 others	50/100
8th	MoEving 2021, Gurugram (India), Series A	Electric mobility solutions for logistics companies	$15.3M	LVX, LIC IT Professionals & 81 others	50/100
9th	BluWheelz 2022, Delhi (India), Seed	Provider of electric vehicle fleet management and logistics support services	$3.21M	Faad Capital, Venture Catalysts & 41 others	49/100
10th	Evify 2021, Surat (India), Seed	Provider of electric vehicle fleet for business-to-business delivery services	$2.68M	Gujarat Venture Finance, Piper Serica & 51 others	47/100

Get insights and benchmarks for competitors of 2M+ companies! Sign up today!

Looking for more details on Evify's competitors? Click here to see the top ones

EVIFY LOGITECH PRIVATE LIMITED, the legal entity associated with Evify, generated less than ₹10 Cr in revenue for the financial year ending on Mar 31, 2026. The revenue of EVIFY LOGITECH PRIVATE LIMITED has a compounded annual growth rate (CAGR) of -32% in the last 1 year.

Financial Statement Summary

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22
Income Statement
Revenue	7156	1897	8747	7823	5985
Total Sales	7244	4845	2399	4813	8516
Total Expenses	7635	7301	1483	1712	5813
Operating Expenses	8295	1403	5982	1337	2419
Employee Expenses	1042	7915	8285	2337	6539
Operating Income (EBIT)	4069	7853	2424	4262	8362
Interest Expenses	7472	9602	5815	4302	5775
Expenses from other activities	6051	4976	6903	6397	8848
EBITDA	8123	3928	8470	4022	7178
Taxes	7357	2707	6261	7395	5175
Net Profit	3874	3252	1775	8453	2792
Balance Sheet
Assets	8218	3858	3982	4109	3354
Accounts Receivables	8341	7425	8813	6855	6715
Inventory	2290	8960	5874	9150	7657
Liabilities	8586	9009	6788	4266	5410
Total Debt	8660	6660	2146	6786	9513
Accounts Payable	6998	8276	9060	1795	3959
Equities	4798	7407	5236	3367	6391

Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)

Founders (largest shareholder) own 41.89%, Funds own 26.81%, Enterprises own 1.74% and Angels own 13.44%. The net worth of Evify's founders is INR 33.7Cr as of Mar 18, 2026. The cap table displayed below is for EVIFY LOGITECH PRIVATE LIMITED which is the legal entity associated with Evify.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	41.89%	33.7Cr	1394226	8172935	2450423	7386374
Devrishi Nareshkumar Arora	2761426	3049868	2863815	8823888	2416920	6387085
Pragya Vineet Mittal	8930241	5110920	4822213	4228656	4822127	2380823
Fund	26.81%	21.6Cr	4446070	3853711	8316485	4953606
Gujarat Venture Finance	9190119	2142352	3569116	5127775	3136551	7174022
We Founder Circle	0	0	0	0	0	0
Enterprise	1.74%	1.4Cr	2	5	2	7
Angel	13.44%	10.8Cr	4180685	3462066	5600265	5697298
Jatinkumar Shah	5329	2080	9646	5056	1853	4110
Saurabh Juneja	0	0	0	0	0	0
Arun Agarwal	0	0	0	0	0	0
Other People	7.33%	5.9Cr	8816929	6160561	3216992	1992208
ESOP Pool	8.79%	7.08Cr	3526794	3216441	6041209	7021907
Total	100.00%	80.5Cr	9617941	2913601	4703302	9174743