Ev2 Ventures

Ev2 Ventures is a Gurugram-based early-stage Indian venture firm focused on smart mobility and tech-enabled delivery networks, with healthcare exposure expressed through the digital health businesses that depend on logistics infrastructure. Stage focus is seed and Series A with checks in the $250k to $1M range, and AI is not flagged as a primary focus. The mobility-and-logistics thesis is the distinctive shape: Ev2 backs healthcare businesses where the logistics layer is a core differentiator, including pharmacy delivery, diagnostic sample collection, medical equipment last-mile, and cold chain infrastructure for temperature-sensitive pharma and biologics. The right founder for Ev2 is an Indian operator building a digital health, telehealth, e-pharmacy, or diagnostic logistics business where the operational sophistication of the delivery network is a meaningful moat. The wrong founder is a deep medtech or therapeutics team, a pure software healthcare AI company without logistics components, or a US-modeled SaaS team without Indian market thesis. Intro paths run through Gurugram and Delhi’s tight venture community, the broader IIT Delhi and IIM Ahmedabad operator networks, frequent co-investors and follow-on partners including Blume Ventures, Stellaris Venture Partners, India Quotient, Endiya Partners, and the YC India cohort, and through Ev2’s existing portfolio CEOs. Direct outreach is read but warm intros materially help. In the pitch, lead with the operational complexity of your logistics or delivery model and the cost-of-acquisition advantage your platform creates through superior execution, since this is where Ev2’s pattern recognition is sharpest. Show realistic unit economics in INR including last-mile cost, density assumptions, and the reality of Indian payment rails and conversion friction. Be specific about CDSCO, NPPA, and FSSAI posture as relevant, and about your data architecture given India’s evolving DPDPA framework. Show that you understand the difference between Tier-1 metropolitan logistics economics and Tier-2 and Tier-3 reality. Caveats include the small check size which means Ev2 is rarely a sole lead, the increased competitiveness of Indian seed and Series A in 2024-2025 which has compressed timelines, and the reality that delivery-economics businesses in India face structural margin pressure from labor and fuel costs. For Indian operators building logistics-differentiated healthcare businesses, Ev2 is a credible thematic early partner.