GreenCell Mobility raised ₹ 330 crore from Impact Fund Denmark. They will use the money to add 4,500 new electric buses and grow their fleet to over 5,000 across India.
The company aims to grow its electric bus fleet to about 4,500 buses. This funding strengthens the company’s institutional support as it expands its intercity and intracity transit networks.
The company provides electric charging infrastructure and bus services and has received early backing from Eversource Capital. Following this latest rollout, GreenCell Mobility’s fleet will operate in 105 cities.
Devndra Chawla, Managing Director and CEO of GreenCell Mobility, emphasised that the company’s priorities are to execute its order book, enhance service delivery, and scale the organisation to match its expanding operations. He added that the equity investment creates extra financial breathing room to support their growth initiatives.
Backed by a January 2026 injection of $89 million in mezzanine financing, GreenCell Mobility received support from major institutional partners, including the International Finance Corporation (IFC), British International Investment (BII), and Tata Capital.
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Eversource Capital CEO Dhanpal Jhaveri said that electric public mobility in India is shifting from a niche opportunity to a viable infrastructure asset class for investors.
Given India’s ongoing air pollution hurdles, the country remains a vital market for the institution, prompting its investment in GreenCell Mobility. Neither the enterprise valuation nor the exact equity stake held by Impact Fund Denmark has been publicly disclosed by GreenCell Mobility.
