GreenCell Mobility Secures ₹330 Crore Investment from Impact Fund Denmark to Expand Electric Bus Fleet

Mumbai, India, October 13, 2026: GreenCell Mobility, an electric bus platform backed by Eversource Capital, has announced an equity investment of ₹330 crore from Impact Fund Denmark (IFDK) to accelerate its electric public transportation operations across India.

The fresh investment will support the rollout of approximately 4,500 electric buses currently in the company’s pipeline. Following these deployments, GreenCell Mobility expects to operate a fleet of more than 5,000 electric buses across 105 cities in India.

The investment marks another step in the company’s expansion plans as demand for electric public transport grows amid efforts to reduce urban air pollution and accelerate India’s transition towards cleaner mobility.

GreenCell Mobility operates across intra-city and intercity transportation, with a focus on scaling electric bus deployment and strengthening its operational capabilities.

Eversource Capital Highlights Long-Term Investment Opportunity

Dhanpal Jhaveri, CEO of Eversource Capital, said electric public mobility was evolving from an emerging opportunity into an investable infrastructure asset class in India.

He noted that GreenCell Mobility was established to build the operational capabilities and institutional scale required to create a sustainable business in the electric mobility sector.

According to Jhaveri, the investment from Impact Fund Denmark reflects the growing interest of long-term institutional investors in the company’s business model. The next phase will focus on deploying capital efficiently, expanding operations, strengthening capabilities and generating long-term value as India transitions towards electric mobility.

GreenCell Mobility Focuses on Fleet Expansion and Execution

Devndra Chawla, Managing Director and CEO of GreenCell Mobility, welcomed Impact Fund Denmark as a shareholder and acknowledged the continued support of existing investors, including Eversource Capital, the International Finance Corporation (IFC), British International Investment (BII) and Tata Capital.

Chawla said the company had established a presence in both intra-city and intercity transportation, backed by experience in managing large and complex electric bus deployments.

He added that GreenCell Mobility’s immediate priorities include executing its existing order book, strengthening service delivery and ensuring its organisation can support the growing scale of operations.

The ₹330 crore equity investment will provide additional financial flexibility to accelerate expansion while maintaining operational reliability, efficiency and customer service standards.

Impact Fund Denmark Backs India’s Green Mobility Transition

Lars Bo Bertram, CEO of Impact Fund Denmark, said India remained a key market for the organisation and described GreenCell Mobility as an investment opportunity in a rapidly expanding sector.

He highlighted the potential of electric transportation to address air pollution, improve urban environments and support India’s broader green transition.

The investment reflects the role of institutional capital in supporting the expansion of electric public transportation infrastructure, particularly as cities seek cleaner alternatives to conventional diesel-powered buses.

GreenCell Mobility’s Growing Role in India’s Electric Bus Market

With a planned fleet exceeding 5,000 electric buses across 105 cities, GreenCell Mobility is looking to strengthen its position in India’s electric public transportation market.

The deployment of approximately 4,500 additional buses represents a significant expansion of its operating footprint. The company’s ability to execute its order book, maintain service reliability and manage operations across multiple cities will be central to delivering its growth plans.