Electric mobility startup Drivn raises Rs 45 crore in seed funding from Avaana Capital

Electric commercial mobility startup Drivn’s Indian entity has raised Rs 45 crore, or about $4.7 million, in a seed funding round from Avaana Capital, according to regulatory filings.

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The fundraising comes several months after Drivn secured financing commitments of up to $80 million from Japanese financial services group Nomura for the deployment of electric buses and trucks.

The board of Drivn’s Indian entity approved the allotment of 33,98,792 compulsorily convertible preference shares, or CCPS, at an issue price of Rs 132.40 per share.

Avaana Capital invested the entire Rs 45 crore in the round. The filings said the startup plans to use the fresh capital to meet its business requirements and for general corporate purposes.

Founded in June 2025 by Manav Bansal, Alpna Jain and Madhujeet Chimni, Gurugram-based Drivn Transition Private Limited is building an electric mobility platform focused on commercial vehicles, offering vehicle leasing, charging infrastructure, battery lifecycle management and fleet operations.

According to Drivn, it owns and leases electric commercial vehicles, including intercity buses and heavy-duty trucks, as part of its effort to address financing, deployment and infrastructure requirements for fleet electrification.

Its leasing offering includes long-tenure leases, flexible payment structures and operating lease models. The startup also uses an in-house technology platform to monitor vehicle and battery performance.

Following the latest funding round, Singapore-based Drivn Transition PTE. LTD holds an 88.75% stake in the Indian entity. Avaana Capital holds 7.22%, while Bansal owns 4.03%, according to the filings.

The Singapore entity has previously invested in the Indian business, with government foreign investment data listing Drivn Transition PTE. LTD as an investor in Drivn Transition Private Limited.

The Rs 45 crore round follows the financing commitments of up to $80 million announced with Nomura in February 2026. Drivn said that financing was intended to support the deployment of electric buses and trucks.