Drivn, a full-stack electric mobility platform, has secured financing commitments of up to $80 million from global financial services group Nomura. This significant capital injection will fuel the initial phase of deploying nearly 1,000 electric buses and heavy trucks across India. The move positions Drivn to become a pivotal player in electrifying the nation's underserved inter-city transport and heavy logistics sectors.
A Strategic Financial Injection
The funding, structured primarily as senior secured debt with an equity component, will be deployed in two tranches. It is earmarked to support the company's Phase 1 rollout, targeting critical intercity transport and industrial logistics corridors. This strategic investment provides the necessary capital to overcome the high initial cost of electric commercial vehicles, a major barrier to adoption.
An Innovative Business Model
Founded in 2025 by industry veterans Manav Bansal and Alpna Jain, Drivn operates a unique asset-owning model. The company acquires, owns, and leases electric vehicles to operators on long-term contracts, supported by an integrated technology platform. This full-stack approach covers everything from charging infrastructure planning to battery lifecycle management, simplifying the transition for fleet operators.
A core component of Drivn's strategy is its proprietary data platform that monitors vehicle performance in real time. It tracks crucial metrics like battery health, route efficiency, and even driver alertness to optimize operations and asset value. This granular data discipline provides a level of insight that traditional lenders and fleet operators currently lack, de-risking the investment.
Forging Key Industry Partnerships
To kickstart its operations, Drivn has already established several key commercial partnerships with transport operators. The company has secured a 150-bus intercity deployment with Fresh Bus and a 50-bus deal with Zing Bus. These agreements validate its business model and provide an immediate pathway to deploying its electric fleet at scale.
On the heavy logistics front, Drivn has partnered with Enviiiro, an arm of Inland World Logistics, for a 78-truck electric fleet. The company has also secured a supply agreement with the Murugappa group’s Montra Electric for 55-tonne electric trucks. These collaborations are essential for addressing the hard-to-abate emissions from the heavy trucking segment.
Addressing Market Challenges and Future Outlook
Drivn's model directly confronts the challenges that have slowed commercial EV adoption, particularly high capital costs and perceived operational risks. Co-founder Manav Bansal highlighted that traditional banking systems are not yet equipped to finance these assets over longer tenures. Drivn's asset-backed, data-led approach is designed to bridge this critical gap in the market.
The investment from Nomura signals strong confidence in Drivn's vision as a long-term infrastructure provider rather than just a financing intermediary. Kushagra Pant of Nomura praised the company's combination of asset ownership, data, and operational discipline. This strategic alignment supports India's national goal of 30% EV penetration by 2030 and decarbonization efforts.
This $80 million financing commitment from Nomura marks a significant milestone for Drivn and India's commercial EV ecosystem. By combining capital, technology, and strategic partnerships, the company is poised to accelerate the transition to zero-emission transport. Drivn's infrastructure-focused approach could set a new standard for electrifying the nation's most challenging and impactful transportation segments.