Funding · Mobility & Logistics

BillionElectric raises $25 Mn for electric truck fleet

By Startup Enthusiast · 13 January 2026

What they do

BillionElectric provides end-to-end electric commercial vehicle logistics, including trucks, buses, and charging infrastructure

It raised $25 Mn in equity and debt from SBI, HNIs, and family offices to deploy over 500 electric trucks by FY27

The funding follows a $10 Mn seed round in 2023 and aligns with central government subsidies for e-trucks

BillionElectric Mobility raised $25 Mn (around INR 207 Cr) in a mix of equity and debt.
The investors included SBI, undisclosed HNIs (high-net-worth individuals), and family offices.
The company plans to deploy the capital to add over 500 electric trucks by FY27.
It will also invest in fleet management systems, tech platforms, and ecosystem partnerships.
The company has already secured over 250 long-term EV truck contracts across India, mostly for medium- and heavy-duty trucks.
This is the second major investment after a $10 Mn seed round in 2023.

The central government's PM E-DRIVE scheme offers incentives for 5,600 e-trucks and subsidies up to INR 9.6 Lakh per vehicle.
Competitors like EKA Mobility and Blue Energy Motors have also raised capital for electric truck operations.
The seed round in 2023 helped BillionElectric expand its presence and bag contracts from Ashok Leyland.

BillionElectric is an electric mobility-as-a-service (eMaaS) startup providing end-to-end commercial EV logistics.
Its offerings include electric trucks and buses, charging infrastructure, and smart telematics (vehicle tracking and data systems).
The fleet deployment focuses on commercial and industrial logistics sectors: cement, automotive, 3PL (third-party logistics), and ecommerce.
The company operates across India, with a pan-India rollout planned along key industrial corridors.
It has secured over 250 long-term EV truck contracts, mostly for medium- and heavy-duty trucks.

Deploy capital to add over 500 electric trucks by FY27.
Invest in fleet management systems, tech platforms, and ecosystem partnerships.
Expand across key industrial corridors in India for a pan-India rollout.

SBI (participated) — State Bank of India, a public sector bank.
undisclosed HNIs (participated) — High-net-worth individuals not named.
family offices (participated) — Wealth management firms for wealthy families, not named.