Indian Institute of Management Ahmedabad\\\'s Centre for Innovation Incubation & Entrepreneurship (CIIE) has made an investment into Ahmedabad-based Evomo Research & Advancement Pvt. Ltd.
Indian Institute of Management Ahmedabad's Centre for Innovation Incubation & Entrepreneurship (CIIE) has made an investment into Ahmedabad-based Evomo Research & Advancement Pvt. Ltd.
Evomo who won the programme Power of Ideas 2012, organised by CIIE in partnership with the Economic Times and Department of Science and Technology has received an undisclosed amount. The bi-annual national wide competition selected India's startups in a 10 day intensive workshop hosted at IIM Ahmedabad.
CIIE, Director of Operations, Shashank Rastogi said, "Good transportation is an enabler for social welfare as it brings communities' faster access to all other facilities. More startups need to take up such challenges and create solutions to improve infrastructure."
Evomo was launched in 2010 by CEO and Founder Abhinav Das following a casual visit to Uttar Pradesh, where he saw unsafe locally-manufactured vehicles transporting people and goods.
"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. This funding will now enable us to get to a stage where we can take preorders for actual sales," added Das