BillionE Mobility raises US$25 million to expand electric truck operations in India

BillionElectric Mobility (BillionE), an electric mobility-as-a-service (eMaaS) platform focused on electric truck transportation, has raised US$25 million in a growth capital round through a combination of equity and debt. The round saw participation from ultra-high-net-worth individuals, family offices, financial institutions, and public sector banks, including State Bank of India (SBI).

According to the company, the funding will be used to support the expansion of electric truck deployments, development of supporting infrastructure, and operational requirements for commercial-scale operations. BillionE plans to deploy more than 500 electric trucks during FY 2026–27. The company stated that it has a pipeline of over 1,500 electric trucks planned for deployment over the next two to three years, based on customer demand and financing arrangements.

The company said the expanded fleet will serve commercial and industrial logistics use cases, such as cement, automotive, third-party logistics, metals, FMCG, chemicals, e-commerce, pharmaceuticals, and minerals. These sectors typically operate on fixed routes and high vehicle utilisation levels. The company stated that increased deployment of electric trucks is expected to reduce tailpipe emissions from freight operations.

Sanjeev Kulkarni, CEO and Co-Founder of BillionE Mobility, said “This fundraise comes at a defining moment for electric commercial mobility in India. We are moving beyond pilots to scaled, real-world deployments where execution, reliability, and economics matter most. The capital will allow us to accelerate fleet expansion, strengthen operational readiness, and deepen partnerships with customers committed to decarbonising their logistics. Our vision is to make electric trucking a mainstream, dependable, and commercially viable choice for India’s freight ecosystem.”

Kartikey Hariyani, Founder and Chief Platform Architect of the BillionE Platform, which includes ChargeZone and Billion Electric, stated “I am personally indebted and grateful to our existing and new shareholders backing our vision of an Energy Transition platform enabled by electric mobility in commercial segments.  Currently we are on a growth path of 120% on YoY basis and would like to maintain this momentum in coming months and years.  Fortunately, EV trucking has achieved the total cost of ownership (TCO) at par with diesel on specific routes and use cases, especially 19T and 55T category, and this is indeed a huge boost”.

BillionE Mobility plans to expand operations across industrial clusters and freight corridors in India. Charging infrastructure along these routes is being developed by its group company, ChargeZone, which operates an EV charging network for commercial vehicles.

Also read: BillionE and Hindalco launch electric freight corridor in Gujrat