CONNECT WITH US
EV & Mobility

EV & Mobility

GreenCell Mobility Raises ₹330 Crore from Impact Fund Denmark

EV Tech News logo

Published on

Add as a preferred source on Google
GreenCell Mobility Raises ₹330 Crore from Impact Fund Denmark

GreenCell Mobility, India’s largest OEM-agnostic electric bus platform, has raised ₹330 crore in equity from Impact Fund Denmark (IFDK). The company is backed by Eversource Capital.

The fresh funding will support the rollout of about 4,500 electric buses, taking GreenCell’s fleet to more than 5,000 e-buses across 105 cities in India. The company operates both city and intercity bus services.

“Electric public mobility is moving from an emerging opportunity to an investable infrastructure asset class in India,” said Mr. Dhanpal Jhaveri, CEO, Eversource Capital. He added that the next phase is about putting the capital to work with discipline as the business expands.

Mr. Devndra Chawla, MD & CEO, GreenCell Mobility, said the investment gives the company more room to speed up its plans while keeping up standards of reliability, efficiency and customer experience. He also thanked existing investors Eversource, IFC, BII and Tata Capital for their continued support.

“India is a central market for Impact Fund Denmark,” said Mr. Lars Bo Bertram, CEO, Impact Fund Denmark. He said scaling up electric transport can help tackle air pollution and speed up India’s green transition.



Source link
Related Topics:EV & Mobility

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.