BillionElectric Mobility (BillionE), an e-mobility-as-a-service (eMaaS) platform for electric truck transportation, has raised $25 million in growth capital through a mix of equity and debt. The round was backed by a consortium of ultra-high-net-worth individuals and family offices, along with financial institutions and public sector banks, including the State Bank of India.

The funding marks BillionE’s shift from pilot projects to scaled commercial operations in electric freight mobility. The capital will support the phased rollout of electric trucks, related infrastructure and operational readiness, with plans to deploy over 500 electric trucks in FY 2026–27. BillionE also has a pipeline of more than 1,500 electric trucks planned over the next two to three years, aligned with customer demand and existing financing arrangements.

Commenting on the fundraise, Sanjeev Kulkarni, CEO and Co-Founder of BillionE Mobility, said, “This fundraise comes at a defining moment for electric commercial mobility in India. We are moving beyond pilots to scaled, real-world deployments where execution, reliability, and economics matter most. The capital will allow us to accelerate fleet expansion, strengthen operational readiness, and deepen partnerships with customers committed to decarbonising their logistics. Our vision is to make electric trucking a mainstream, dependable, and commercially viable choice for India’s freight ecosystem.”

Kartikey Hariyani, Founder and Chief Platform Architect of the BillionE Platform, which comprises ChargeZone and Billion Electric, said, “Currently we are on a growth path of 120% on YoY basis and would like to maintain this momentum in coming months and years. Fortunately, EV trucking has achieved the total cost of ownership (TCO) at par with diesel on specific routes and use cases, especially 19T and 55T category, and this is indeed a huge boost.”

The expanded fleet will primarily cater to industrial and commercial logistics segments such as cement, automotive, third-party logistics, metals, FMCG, chemicals, e-commerce, pharmaceuticals and minerals. These sectors offer high potential for electrification due to predictable routes, high utilisation and growing sustainability mandates.

BillionE is pursuing a pan-India expansion strategy across major industrial clusters and freight corridors. These corridors are being progressively electrified by group company ChargeZone, enabling integrated charging access for commercial electric fleets. As deployments scale, the company expects to contribute to meaningful reductions in tailpipe emissions across India’s freight and industrial logistics ecosystem.