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Rural utility vehicles maker Evomo raises funding from IIM-A’s business incubator CIIE

07 October, 2013

Ahmedabad-based rural transportation manufacturer, Evomo Research & Advancement Pvt Ltd, has secured an undisclosed amount in funding from IIM Ahmedabad’s business incubator Centre for Innovation Incubation & Entrepreneurship (CIIE). This funding will enable Evomo to get to a stage where it can take preorders for actual sales, it said in a press statement.

Evomo was launched in 2010 by Abhinav Das (CEO), a graduate in Mechanical and Automation Engineering from Guru Gobind Singh Indraprastha University in Delhi. Prior to setting up Evomo, he worked with Sona Koyo Steering Systems and International Center for Automotive Technology (iCAT) in various positions.

The company designs and manufactures low-cost rural utility vehicles (RUV) that aim to replace illegal and dangerous transportation contraptions found across the country especially in the rural areas.

Evomo RUV is an off-road vehicle for both passengers and goods for rural markets. This vehicle claims to be legal and less polluting, convenient to drive on the worst of the terrains, can be transformed from people carrier to goods carrier and performs some of the agricultural functions like pumping water and carrying load. It is powered by a diesel engine, which could be changed into a relatively greener power train, and can drive at a maximum of 50-60 km/hour.

“There are now more road deaths in India than anywhere else in the world, with many of them occurring in rural areas. The support which we are getting from CIIE, including refining our business model and developing new strategies, as well as its investment are invaluable to addressing the needs of rural transport,” said Das.

(Edited by Joby Puthuparampil Johnson)


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Rural utility vehicles maker Evomo raises funding from IIM-A’s business incubator CIIE

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