Blue Energy Motors raises $50M, Nikhil Kamath among investors
What's the story
Blue Energy Motors, a green trucking company, has raised a total of $50 million in funding to expand its LNG and electric trucking business in India. The latest round, which raised $30 million, saw participation from Zerodha founder Nikhil Kamath and Omnitex Industries. The investment will help the Pune-based start-up accelerate India's transition to clean and sustainable freight transportation. Commenting on the investment, Kamath said, "The future of logistics in India will be built on clean, scalable technology."
Business operations
Manufacturing capabilities and strategic partnerships
Blue Energy, which has Essar Group and Iveco Group firm FPT as strategic investors and technology partners, can manufacture 10,000 trucks a year. The company has already sold around 1,000 trucks that are being used by some of the top companies in India. Its manufacturing unit is located in Pune's Chakan industrial area.
Environmental impact
Leading the charge toward sustainable freight
The new funding will enable Blue Energy Motors to speed up India's transition toward clean and sustainable freight transport. "By harnessing both LNG and electric truck technologies, we are set to lead India's transformation toward sustainable, zero-emission freight," said Anirudh Bhuwalka, founder and managing director of the company. The company's trucks have already collectively traveled over 60 million kilometers while saving around 15,000 tons of carbon dioxide emissions.