Founded in 2022 by Naresh Rawal in partnership with BYD, Qucev develops and manufactures a range of electric commercial vehicles, including tractors, trucks, buses and three-wheelers aimed at sustainable, cost-effective mobility. In addition to vehicle manufacturing, the company offers complementary financing, charging infrastructure and fleet-management services to support adoption. Qucev has not yet recorded product sales; for the fiscal year ended March 2025 it generated Rs 2.08 crore from service revenue and posted a loss of Rs 9.35 crore. The September 2025 Series B financing values the company at roughly Rs 538 crore (about $61 million) post-money. Prior to the latest round, Qucev had raised about $4 million from investors including Singularity AMC, Barclays and Maa Creations. The startup positions itself against competitors such as Euler Motors, Altigreen, Mahindra Electric, Piaggio, Kinetic Green and Tata. With fresh capital, Qucev intends to scale its manufacturing capabilities and broaden its ecosystem of supporting services.

Total raised

$15M

Funding rounds

1

Latest round

Series B

Latest activity

Dec 2025