Gurugram-based EV mobility startup Drivn has raised Rs 45 crore in a seed round led by Avaana Capital. The company plans to use the capital to scale its platform for electrifying commercial fleets. This funding builds upon an earlier $80 million commitment from Nomura aimed at supporting electric vehicle deployment in the logistics sector.
Gurugram-based Drivn Transition Private Limited has raised Rs 45 crore in its latest seed funding round led by Avaana Capital. Regulatory filings indicate the company issued 33,98,792 compulsorily convertible preference shares at an issue price of Rs 132.40 per share to facilitate this investment. The company plans to utilize the funds for operational requirements and general corporate purposes as it expands its footprint in the electric mobility market.
Supporting Commercial Fleet Electrification
Drivn, which was established in 2025 by founders Manav Bansal, Alpna Jain, and Madhujeet Chimni, operates a specialized platform to help businesses transition their commercial fleets to electric power. Unlike traditional logistics providers, the company offers a comprehensive service model that includes leasing vehicles, building charging infrastructure, and managing battery lifecycles. It also provides fleet operations monitoring to help clients track efficiency.
Because the business involves leasing high-cost assets like electric buses and trucks, the startup operates on an asset-heavy model. This requires significant upfront capital to purchase vehicles and build the necessary infrastructure. To manage these financial requirements, Drivn has been building partnerships with global financial institutions.
Building on Global Commitments
This funding round follows a major financial commitment secured earlier in February 2026, when the Japanese financial group Nomura pledged $80 million to support the procurement and deployment of electric buses and heavy-duty trucks. This combination of venture capital and asset-backed financing is intended to help the company scale its operations without putting excessive pressure on its internal cash flow.
Currently, the Singapore-based parent entity, Drivn Transition PTE. LTD, maintains a controlling stake of 88.75% in the Indian subsidiary. Avaana Capital holds a 7.22% stake, while co-founder Manav Bansal retains 4.03%. As the company continues to scale, its ability to successfully manage the operational complexities of vehicle leasing and battery performance will be the primary factor to track. Investors and industry observers will likely monitor how effectively the company deploys these funds to grow its fleet and how it handles the risks associated with the long-term maintenance of electric commercial assets.