Makers of Rural Utility Vehicle Evomo Raise Funds from IIM- A’s Incubation Center

Ahmedabad based Evomo Research & Advancement Pvt. Ltd, a rural transportation enterprise, has raised funds from IIM Ahmedabad’s Centre for Innovation Incubation & Entrepreneurship (CIIE).

CIIE’s Director of Operations ShashankRastogi said, “Good transportation is an enabler for social welfare as it brings communities’ faster access to all other facilities.”

evomo logoCurrently, rural India relies on make shift transportation methods such as a two wheeler attached to a trailer. Taking note of the number of accidents and deaths because of this, in 2010, the Rajasthan High Court banned such transportation methods.

Evomo, launched in 2010 Abhinav Das, designs and manufactures low-cost Rural Utility Vehicles (RUV) to replace illegal and dangerous transportation contraptions like Jugaads and Chakkdas.

The company will use the funds to refine its business model, develop new strategies and begin taking pre-orders, said Das.

Since 2009, CIIE has made 75 investments in startups.

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