Raising $ 28 million, RedBlue EV startup is set to ‘electronically’ Amazon delivery

United States-based venture capital firm RedBlue Capital, which is said to be one of the “largest seed rounds for any Indian startup,” invested USD 28 million in EVage last month – supplying OEM, India’s leading all-electric commercial vehicle.  EV trucks for major delivery fleets, such as Amazon India’s delivery service partners.

EVage Model.X trucks

Backed by a decade of proprietary hardware, software and process innovations in design and manufacturing, Punjab-based Evage represents the ‘Electric Vehicle Age’, which is on the brink of bringing the logistics sector to a new era with EV trucks.  They plan to manufacture EVs in ‘modular micro manufacturing’ factories with smaller footprints and lower capital requirements than traditional automotive OEMs.

The seed funding they received from RedBlue Capital will go to FY 2022-23 to complete the startup’s ready-to-go factory outside Delhi and increase production.

According to Inderveer Singh, author and CEO of Evage, the adventure’s first vehicle, the Model. X (Point X), is a one-ton truck designed for the marketable delivery vehicle request. 

 Exploration and invention

Inderveer remembers his childhood words, “Growing up, I always had a strange mind and an inborn ability to create innovative products.  I created my first EV when I was a teenager and used window cleaning bots, exoskeletons and HVAC duct cleaning and sanitising bots to name a few.

However, along with innate talent, Inderveer has over 15 years of extensive vehicle experience in research and development, plant management, and business and sales.  He is known for his “extraordinary contributions to the industrial development of postwar Japan.”  He was mentored by Hitoshi Kume.  According to this quote, Prof.

Indervir’s commercial journey began in 2014, leading to the concept of Evage and building their first product – a four-wheeled 1-ton commercial vehicle.  After five years of intensive research and development (R&D), the company has been formally registered in 2019.

As an entrepreneur, one who consistently sees the needs of tomorrow needs, I sincerely believe that the logistics industry is on the verge of an electric and sustainable age, with the right entry strategy defined as the path.  We are focusing on the commercial segment, with our focus on building the demand for the unique and unique in the sunrise industry.  He explains.

The EVage team includes highly skilled engineers and scientists working in the aerospace industry, missile propulsion systems and sophisticated design.  To date, the startup has filed 20 patents (in process), focusing on modularity and the use of lighter and stronger bio-friendly materials than steel.  The results of these innovations are quite exciting.

“We have conceptualised and invented the technology to use ultra-modern manufacturing principles in small footprint and commercial applications. Our HQ and first modular micro manufacturing facility is located in Punjab.  We see ourselves as one of the pioneers of the chain and our unique design features have significantly reduced our reliance on components and suppliers.

Model .X EV Electric Truck

“EVage has previously produced a 4W EV truck that will be installed on Indian roads.  Building the Evage chassis with integrated powertrain built from scratch is significantly different from other EKIT models imported from different countries, ”says Inderweer.

Developing Model .X has come with endless research to understand the challenges of late / mid mile delivery in the FMCG, e-commerce and logistics space.  It includes thousands of discussions with delivery drivers to understand the on-ground challenges.

Over the years, Evage has tested five prototypes with hundreds of thousands of kilometers on the road with their potential customers.  They will officially release this vehicle later this year.  So far, however, their prototypes have taken a total of 250,000 kilometers of on-road testing.

According to InderWire, some of the key features of the Model.X based platform are:

  • Aerospace induced formation

  • Focus on light weight

  • We invented composite body panels that are lighter and stronger than steel

  • We focus on modularity in assembly and design to customise the final product

  • Our platform chassis has been developed which is lighter in weight and allows for more cubic feet of space

  • Metaheuristic design principles that involve a lighter more robust structure than other alternatives

  • We developed our integrated powertrain (motor controller, gearbox and battery) from scratch

Their five prototypes currently serve clients from FMCG, e-commerce and the logistics / distribution industry.  Although Amazon is an early fleet customer, they are still in the experimental stage and are hoping to launch the Model .X soon.  The EVage, he goes on to explain, shares the exact vehicle specifications at a later stage.

What is less stressful about building a commercial EV (electric vehicle) truck is that fears for passenger vehicles do not exist.

We help all of our line guests overmatch the complaints of charging stations and vehicle cues. For example, commercial vehicles follow a consistent path and this charging problem is easy to solve,” he adds.

Way forward

According to Prescott Watson, general mate at RedBlue Capital, “ Evage’s automotive platform and fable system is new and needs further to quicken electrification in low- cost requests.  The founders took a completely clean-sheet approach to getting a truck that would meet the needs of delivery fleets across India based on the cost of defeating internal combustion.  The fact that such an innovative product is being used by major fleet customers today makes Evage a clear stance in their field – the team that delivers it.

Adding to the issue of Prescott, Olaf Sockers, general partner at RedBlue Capital, said: “India is a market with booming EV demand, especially in the commercial vehicle segment.  But there is a severe supply shortage.  EVage fills this exact gap.

It is also noticed by Inderveer.  “We honestly believe that EV is the way forward for obvious reasons of environmental, pollution and economic costs. More importantly, we believe that India is now ready for this transformation.  These will remain our main focus areas for the foreseeable future, ”he says