PE Fund Investments
E-bus operator Greencell Mobility attracts addl funding from BII, Tata Capital
British International Investment (BII) and Tata Capital have joined International Finance Corporation (IFC) to invest USD 89 million in mezzanine funding in Mumbai-based GreenCell Mobility , an OEM-agnostic e-bus operator and the electric bus arm of Eversource Capital.Founded in 2019, GreenCell Mobility aims to build a dedicated platform for eMaaS (Electric Mobility-as-a-Service), initially using electric buses to deliver cheaper, non-polluting, on-demand shared transportation, charging infrastructure and enabling products for the e-mobility value chain.The firm currently manages over 1,200 electric buses. The fresh funding will be used by the company to expand its fleet to 3,700 buses. This expansion includes buses won on intra-city routes across Delhi, Madhya Pradesh, Andhra Pradesh, Bihar, and Puducherry from auctions conducted by the National E-Bus Program and the PM Seva E-Mobility initiative.
Between Oct-19 and Sep-25, Greencell Mobility had attracted about USD 177 M from Everstone, ADB, AIIB, IFC, and others.For FY25, Greencell Mobility had reported about INR 652 Cr in Operating Income and about INR 125 Cr in Net Loss.
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