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GreenCell Mobility secures ₹330 crore to widen electric bus footprint

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GreenCell Mobility secures ₹330 crore to widen electric bus footprint

GreenCell Mobility has raised ₹330 crore from Impact Fund Denmark to accelerate its electric bus expansion across India. The funding supports a plan to deploy about 4,500 more buses and lift the fleet beyond 5,000 vehicles across 105 cities. The deal adds to the company’s earlier backing from IFC, British International Investment and Tata Capital, and highlights how institutional capital is increasingly shaping India’s electric public transport build-out.

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GreenCell Mobility has drawn fresh capital at a time when electric public transport in India is shifting from pilot projects to large-scale deployment. The company has raised ₹330 crore in equity from Impact Fund Denmark , a move that will help it step up fleet expansion and strengthen its position in the country’s fast-growing e-bus market.

The funding arrives with a clear operational goal: to add about 4,500 electric buses across India and lift the platform’s overall fleet beyond 5,000 buses operating in 105 cities. Managing director and chief executive Devndra Chawla said the company expects to deploy the buses over the next six to eight quarters, signalling a rapid build-out phase rather than a distant expansion plan.

Chawla said the new investment gives GreenCell Mobility more room to expand while handling the increasingly intricate logistics of large fleet deployments. He did not disclose the enterprise valuation or the post-investment stake that Impact Fund Denmark will hold. Earlier reporting had indicated that the Danish fund had been in discussions to buy a 15 to 20 per cent stake for about ₹500 crore, underlining the scale of interest around the business even before the deal closed.


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