Zevo just raised $6M to scale its EV-only car-sharing platform. The Dallas startup targets gig workers renting EVs to drive for Uber, Lyft, and DoorDash.
Zevo launched about 10 months ago and already hits $8M ARR, with a 3,500+ waitlist and almost zero marketing.
Most renters use Zevo for ride-hailing and deliveries — 90% of users, founder Hebron Sher says. Over 90% of the cars listed are Teslas. 
Sher’s pitch: Zevo’s “secret sauce” is avoiding big VC money to build a sustainable, focused marketplace. That means less pressure to burn cash, more income passed to vehicle owners, and a lean team that grows organically.
Sher said Zevo keeps everything “contactless,” which isn’t new, but is easier because EVs connect well to smartphone apps. This smooths out insurance, tolls, reimbursements, and other hassles that typically bog down gig workers.
Sher compared Zevo to “the MetroPCS of renting cars.” The focus on automation and fewer maintenance needs with EVs means hosts see around 80-day median rentals. Owners can recoup 35%-65% of a car’s cost in a year.
Tesla is close to launching its own robotaxi service in Austin this year. Sher says that doesn’t threaten Zevo. He believes the gig economy need is too big for Tesla alone and Zevo will hit $100M ARR with a tiny 30-person team.
Hebron Sher on Zevo’s strategy:
“It’s gonna sound crazy, but the secret sauce is not raising hundreds and hundreds of millions of dollars to build something that can be a powerful marketplace.”
“We very intentionally raised private capital. We rejected VC capital for that reason. I didn’t want to be on a 12-month to 18-month runway of ‘spend, spend, spend, spend,’ which is how corporate America likes to do things in this world.”
On automation and gig worker benefits:
“There’s [usually] a lot of red tape: insurance cards, incidentals, tolls, supercharging, invoices, reimbursements. We’ve been able to really automate all of that.”
Sher is betting smaller and smarter can take a slice of the EV car-share market faster than a billion-dollar robotaxi fleet. Watch this space.
Check out Zevo if you want to rent or share an EV today.
