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Essar and Iveco-backed Blue Energy Motors (BEM) has raised $30 million (around ₹265 crore) from investors including Zerodha co-founder Nikhil Kamath and Omnitex Industries. Kamath invested $10 million, while the balance came from Omnitex. With this round, the company’s total capital raised now stands at $50 million.
Founder and Managing Director Anirudh Bhuwalka said the funding will be used to strengthen product capabilities and build the company’s electric vehicle portfolio. He added that commercial production of electric trucks has already begun and the official launch is scheduled for October.
Bhuwalka emphasized that these trucks have been fully developed in-house, with no partnership with any OEM, except for technical support related to the battery and motor.
The company’s Pune plant has a manufacturing capacity of 10,000 trucks annually. So far, Blue Energy has rolled out more than 1,000 LNG trucks, and its electric trucks will also be produced at the same facility.
Investor Nikhil Kamath commented, “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.”
