Founded in 2019 by Peter Hartmut and CG Krishna Bhupathi, 3ev Industries manufactures electric three-wheelers aimed at India’s last-mile and urban transport sectors. Its offering combines vehicle manufacturing with financing, Battery-as-a-Service (BaaS), and aftermarket support to simplify EV adoption. The company is developing a 3C division—charging, care, and conversions—and is advancing R&D in regenerative braking, advanced materials, and solar-enabled cold-chain EV technology. Recent traction shows vehicle sales nearly doubling from 438 units in FY24 to a projected 834 units in FY25, while revenue is expected to jump from Rs 17.8 crore to Rs 54.7 crore in the same period, with a target of Rs 65 crore and positive EBITDA by FY26. Capital from the latest round will expand manufacturing capacity and deepen supply-chain integration. Operating in a market forecast to reach $18.7 billion by 2035 with 60% three-wheeler EV penetration, 3ev positions itself as a full-stack urban mobility player.

Total raised

$13M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2025