Drivn secures up to $80M in financing from Nomura for commercial EV rollout

Drivn, a commercial electric mobility platform focused on large vehicles, has secured financing commitments of up to $80 million from Nomura, subject to documentation and final conditions, the company said on Monday.

The capital will be used to support the initial deployment of electric buses and trucks across its inter-city transport and heavy trucking segments. Drivn’s Phase 1 plan targets the rollout of nearly 1,000 vehicles by the fourth quarter of FY27, with deployments expected to begin in February 2026.

Founded in 2025, Drivn operates an asset-owning model under which it purchases, owns, and leases electric buses and trucks to operators through long-term contracts. The company focuses on segments such as inter-city buses and heavy commercial vehicles, which have seen slower electrification due to high capital requirements and operational risks.

The platform is structured to address these challenges through an asset-backed and data-led approach aimed at improving vehicle uptime, charging readiness, and lifecycle management. Alongside the financing, Drivn has entered into memorandums of understanding with bus and logistics operators, vehicle manufacturers, charging and energy service providers, and maintenance partners to support coordinated deployment and operations.

Commenting on the announcement, Manav Bansal, Co-Founder and Chief Executive Officer, Drivn, said, “For electric mobility to work at scale in heavy transport, the solution has to go beyond vehicles. It also has to address capital intensity, operational risk, and long-term reliability.”

Alpna Jain, Co-Founder and Chief Business Officer, added, “This financing allows us to build an integrated operating model, where our partners can run electric buses and trucks optimising their balance-sheets, and where performance, uptime, and lifecycle outcomes are engineered into the system from day one.”

Kushagra Pant, Managing Director and Head of Private Credit, Asia ex-Japan at Nomura, said, “From an energy transition perspective, heavy commercial transport represents the most high-impact leverage point for decarbonization. Drivn stood out for us because it is not approaching this as a financing play alone, but as a long-term infrastructure platform that combines asset ownership, data, and operational discipline. We see strong potential in this model to scale India’s electric corridors while generating durable, infrastructure-grade returns.”

Drivn said its model aligns with government initiatives such as FAME and PM e-Bus Sewa, and is aimed at supporting electrification in hard-to-abate sectors, including logistics, cement, and steel. The company positions itself as a long-term infrastructure operator for commercial EV adoption rather than a vehicle financing intermediary.