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New Delhi: Zerodha co-founder Nikhil Kamath and Omnitex Industries have agreed to invest $30 million in Blue Energy Motors. This is Kamath’s first investment in India's growing commercial vehicle industry.
"The future of logistics in India will be built on clean, scalable technology. The real opportunity lies in solutions that don't just chase disruption, but deliver it quietly, efficiently, and at scale. Blue Energy has done that well,” Kamath said.
Blue Energy Motors (BEM) is engaged in the manufacturing of LNG and Electric heavy-duty trucks in India. The leading EV truck manufacturer in the country has secured fresh funding, bringing its total capital raised to USD 50 million.
BEM has a long standing vision of green energy mobility. The firm has the backing of Essar and FPT (Iveco Group). Such big companies serve as both a strategic investor and technology partner.
"In the latest funding round, Blue Energy Motors raised an additional USD 30 million from Nikhil Kamath and Omnitex Industries," the company said in a statement.
Currently, BEM’s manufacturing capacity stands at 10,000 trucks per year. The company is raising fresh funds to raise its manufacturing capacity by accelerating production, expanding the development of liquefied natural gas (LNG) and electric vehicle (EV) heavy-duty trucks, and scaling the company's green mobility footprint across India.
"The company is at the forefront of decarbonising India's transportation sector, which contributes nearly 15 per cent of the country's total carbon emissions," the statement said.
Blue Energy Motors is India's largest manufacturer of LNG trucks. The firm has sold around 1,000 vehicles and its clients include leading Fortune 500 companies. The trucks have covered destinations more than 60 million kilometres, which helped reduce carbon emissions by over 15,000 tonnes (CO2) to date.
Commenting on the fund raise, Anirudh Bhuwalka, founder and managing director of Blue Energy Motors, said, "The fresh fund raise empowers Blue Energy Motors to accelerate India's shift to clean, sustainable freight transportation. By harnessing both LNG and electric truck technologies, we are set to lead India's transformation toward sustainable, zero-emission freight. Our commitment to delivering scalable, commercially viable solutions positions us at the forefront of the green mobility revolution and sets the stage for long-term value creation for our investors."
