Drivn, an electric mobility startup, just got up to $80 million from Nomura, a big Japanese financial services company. It’s one of the biggest funding moves we’ve seen in India for electric vehicles like buses and trucks.
They’re getting the money mostly as a secured loan, but with some stock involved too. Drivn plans to use it in two parts to get almost 1,000 electric buses and heavy trucks on the road across India, running between cities and in factory areas.
Manav Bansal and Alpna Jain started Drivn in 2025. They’re creating a platform that owns electric vehicles, focusing on the kinds that are usually tough to make electric. While electric scooters and delivery vehicles are becoming common, buses and big trucks still mostly use diesel because they cost a lot upfront, and it’s hard to find long-term loans for them. Drivn is fixing this by buying electric buses and trucks and then leasing them to companies on long contracts.
The company says electric buses and trucks usually cost way more than diesel ones, which makes them hard to finance with typical loans. Drivn is different because they’re patient with their money. They also keep a close eye on how things are going, which helps them connect clean transportation with investors.
That $80 million will let Drivn put almost 1,000 vehicles on the road by August. In the beginning, about 60% will be electric buses and 40% will be electric trucks. These vehicles will be used on busy routes between cities and in industrial areas where they can save fuel, get used a lot, and cut down on emissions, which makes electric vehicles a good choice in the long run.
One thing that makes Drivn stand out is their tech platform that keeps track of their vehicles. They watch things like battery health, charging, how the battery is wearing down, route efficiency, how much weight they’re carrying, temperature, and even how the driver is doing. This detailed info lets Drivn keep an eye on how the vehicles are doing. Regular lenders and fleet operators usually can’t do this. By knowing how well the vehicles are performing and what they’ll be worth later on, the platform makes long-term financing seem less risky.
Along with the funding news, Drivn announced their first partnerships, which shows they’re getting some traction in the market. They’re working with Fresh Bus to deploy 150 buses between cities, Zing Bus for 50 buses, and Enviiiro (a logistics company owned by Inland World Logistics) for 78 electric trucks. They’re also partnering with Montra Electric, which is part of the Murugappa Group, to get 55-tonne electric trucks, which will help their supply chain and get them ready to go.
People are getting more interested in electric mobility between cities because of government support, rising fuel costs, and more people accepting buses as a cheap way to travel long distances. Drivn’s funding is coming at a time when D2C(direct-to-consumer) businesses in India are focusing more on tech-enabled platforms that own assets and prioritize making money and being sustainable for the long haul.
With this new funding, Drivn is set to become a key player in India’s electric mobility scene, going beyond just personal vehicles and last-mile delivery. The commitment from Nomura shows that people have confidence in Drivn’s asset-led, tech-first approach and also in India’s clean mobility potential, especially in the commercial areas that haven’t been explored much yet.
As Drivn puts more vehicles on the road and partners with more companies, they could be really important in getting buses and trucks to go electric, which would change how money flows into India’s electric mobility and D2C business world.
