BillionE Mobility Raises $25M to Scale Electric Truck Fleet

Electric commercial vehicle startup BillionE Mobility has raised $25 million (around ₹200 crore) in growth capital to expand its electric truck operations across India’s industrial freight corridors. The funding round comprises a mix of equity and debt and was backed by ultra-high-net-worth individuals, family offices, and financial institutions, including State Bank of India (SBI).

The company plans to deploy over 500 electric trucks during FY 2026–27, alongside investments in fleet management systems and technology infrastructure. BillionE Mobility operates as an E-Mobility-as-a-Service (EMaaS) platform, focused on decarbonising mid-mile and long-haul freight transportation.

“We are moving beyond pilot projects to large-scale, real-world deployments where execution, reliability, and economics matter most,” said Sanjeev Kulkarni, CEO and co-founder of BillionE Mobility. “This capital will help us accelerate fleet expansion, strengthen operational readiness, and deepen partnerships with customers committed to decarbonising their logistics.”

Kartikey Hariyani, founder and chief platform architect of the BillionE platform—which includes ChargeZone and Billion Electric—said the company is witnessing 120% year-on-year growth. He added that electric trucks in the 19-tonne and 55-tonne categories have achieved total cost of ownership (TCO) parity with diesel vehicles on select routes.

BillionE Mobility has also outlined plans to deploy more than 1,500 electric trucks over the next two to three years, subject to customer demand and financing arrangements. The expanded fleet will cater to industries such as cement, automotive, third-party logistics, metals, FMCG, chemicals, e-commerce, pharmaceuticals, and minerals, which typically operate on predictable routes with high vehicle utilisation.

The company’s group affiliate CHARGE ZONE, described as one of India’s largest EV charging networks, is developing charging infrastructure along these freight corridors to support electric truck operations. BillionE Mobility estimates that the growing electric fleet will significantly reduce tailpipe emissions and lower the carbon intensity of industrial logistics.

Positioning itself as an integrated platform combining electric vehicles, charging infrastructure, and fleet management technology, BillionE Mobility aims to accelerate the transition to zero-emission commercial transportation in India.