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Electric commercial mobility startup Drivn’s Indian entity has raised Rs 45 crore or $4.7 million in a seed funding round led by Avaana Capital. The fundraise comes a few months after Drivn received an $80 million commitment from Japanese financial services group Nomura in February 2026. The latest capital has been raised by Drivn’s Indian operating entity, while its parent holding company is based in Singapore. According to regulatory filings accessed by Entrackr, the Indian entity’s board approved the allotment of 33,98,792 compulsorily convertible preference shares (CCPS) at an issue price of Rs 132.40 per share. Avaana Capital invested the entire Rs 45 crore in the round. According to the filings, the company will use the fresh capital to meet its business requirements and for general corporate purposes. Founded in 2025 by Manav Bansal and Alpna Jain, Gurugram-based Drivn is building a full-stack electric mobility platform focused on large commercial vehicles. The startup owns and leases electric intercity buses and heavy-duty trucks, while also offering fleet operations and other services for commercial fleet owners. Drivn also provides charging infrastructure and battery lifecycle management solutions as it looks to build an integrated platform for businesses transitioning their commercial fleets to electric vehicles. Following the latest fundraising, Singapore-based Drivn Transition PTE. LTD remains the majority shareholder in the Indian entity with an 88.75% stake. Avaana Capital holds a 7.22% stake, while co-founder and CEO Manav Bansal owns 4.03%. Despite raising capital and securing the Nomura commitment, Drivn’s Indian entity was still at a pre-revenue stage in FY26. The company reported a loss of Rs 1.96 crore during the financial year, according to its regulatory filings.
document fetched 2026-09-22 02:55