Essar-backed Blue Energy Motors has raised USD 30 million in a fresh funding round led by Zerodha co-founder Nikhil Kamath and Omnitex Industries, a major textile trading firm. The capital will be deployed to expand manufacturing capacity for both liquefied natural gas (LNG) and electric heavy-duty trucks.
Scaling Production
Currently, Blue Energy Motors has the capacity to produce 10,000 trucks annually. With the new funding, production is expected to increase significantly to meet rising demand. The company claims to have sold approximately 1,000 vehicles, which have collectively clocked over 60 million kilometres on Indian roads.
Driving Sustainable Freight
Founder and Managing Director Anirudh Bhuwalka stated, “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 zero-emission freight.”
The investment aligns with India’s regulatory push under initiatives such as the PM E-DRIVE scheme, which has allocated INR 500 crore to support electric truck adoption. Nikhil Kamath added, “The future of logistics in India will be built on clean, scalable technology. Blue Energy has delivered solutions that combine efficiency with measurable impact.”
Market Context & Competitors
With this round, Blue Energy’s total capital raised stands at USD 50 million. The company competes with established players such as Tata Motors, Ashok Leyland, and Olectra Greentech, positioning itself as a key player in India’s green mobility revolution.
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