Gurugram-based electric mobility startup Drivn has secured Rs 45 crore in seed funding for its Indian business, adding fresh equity capital months after lining up financing commitments of up to $80 million with Nomura for electric buses and trucks.
Electric mobility startup Drivn has raised Rs 45 crore, or about $4.7 million, in seed funding from Avaana Capital through its Indian entity. The investment brings institutional capital into a business that is building an electric mobility platform around commercial vehicles rather than focusing only on vehicle ownership.
It is in the finer points of the transaction where the contours of the deal become clearer. The Indian arm of Drivn had approved the issuance of 33,98,792 compulsorily convertible preference shares at the price of Rs 132.40 per share to Avaana Capital, who have invested the entire amount of Rs 45 crore in this regard.
The share price and post-round ownership structure make this more than a headline funding announcement. Following the investment, Avaana Capital holds a 7.22% stake in Drivn’s Indian entity, while Singapore-based Drivn Transition PTE. LTD retains 88.75%. Co-founder Manav Bansal holds the remaining 4.03%, based on the filings cited in the report.
Drivn is building around commercial electric fleets
Founded in 2025 by Manav Bansal, Alpna Jain and Madhujeet Chimni, Drivn Transition Private Limited is based in Gurugram and is focused on electrifying commercial vehicle operations.
Its model goes beyond supplying electric vehicles. The company is developing a platform that brings together vehicle leasing, charging, battery lifecycle management and fleet operations for commercial EV users.
Drivn owns and leases electric commercial vehicles, including intercity buses and heavy-duty trucks. The broader proposition is built around tackling some of the practical requirements involved in fleet electrification, including financing, deployment and supporting infrastructure.
On the financing side, its offering includes long-tenure leases, flexible payment structures and operating lease models. Drivn also uses a technology platform to track vehicle and battery performance, bringing the operating and financial sides of commercial EV deployment into the same business model.
Rs 45 crore equity round follows Nomura financing commitment
The Avaana Capital investment comes after Drivn secured a separate financing commitment of up to $80 million from Japanese financial group Nomura.
The combination gives Drivn two distinct pools of capital as it develops its commercial EV platform. The equity round strengthens the company at the corporate level, while the earlier financing commitment was directed toward putting electric commercial vehicles on the road.
The Singapore entity has also invested in the Indian operation previously, with foreign investment data listing Drivn Transition PTE. LTD as an investor in Drivn Transition Private Limited.
For Drivn, the latest round therefore sits within a wider capital strategy built around both ownership funding and deployment financing. With Avaana now holding 7.22% of the Indian business and the Singapore entity remaining the controlling shareholder, the company enters its next phase with fresh seed capital alongside the previously announced financing capacity for buses and heavy-duty trucks.
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