Blue Energy Motors has secured a total of $50 million to boost its LNG and electric trucking business in India. The green trucking firm's latest funding round, which raised $30 million, included investment from Zerodha founder Nikhil Kamath and Omnitex Industries.
"The future of logistics in India will be built on clean, scalable technology. The real opportunity lies in solutions that don't just chase disruption, but deliver it quietly, efficiently, and at scale. Blue Energy has done that well," Kamath said in a recent statement.
Blue Energy, which counts Essar Group and Iveco Group firm FPT as strategic investors and technology partners, has a manufacturing capacity of 10,000 trucks a year.
It sold around 1,000 trucks, which, it added, are operated by leading companies in India.
The Pune-based firm has a manufacturing unit in the city’s Chakan industrial area.
"The fresh fund raise empowers Blue Energy Motors to accelerate India’s shift to clean, sustainable freight transportation. By harnessing both LNG and electric truck technologies, we are set to lead India’s transformation toward sustainable, zero-emission freight," founder and managing director Anirudh Bhuwalka said.
Its trucks have collectively travelled more than 60 million kilometres, saving around 15,000 tonne of carbon dioxide emissions, the company said.
"As investors in Blue Energy Motors, Essar remains deeply committed to accelerating India's transition to green mobility. Our continued investment underscores our confidence in Blue Energy Motors and the company's innovative approach to decarbonizing heavy-duty transportation," Essar director Anshuman Ruia said.
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