Zerodha and True Beacon co-founder Nikhil Kamath has invested $20 million in GreenLine Mobility Solutions Ltd., part of a $275 million equity round led by the Essar Group. This funding aims to accelerate the decarbonization of India's heavy trucking sector through the deployment of LNG and electric-powered commercial vehicles. GreenLine, led by CEO Anand Mimani, is a key player in India's green logistics transformation.
Key Details
- Total Funding Raised: $275 million equity round led by Essar Group
- Nikhil Kamath's Investment: $20 million
- Fleet Expansion Plan: Deploy over 10,000 LNG and EV trucks
- Infrastructure Development: Establish 100 LNG refueling stations, EV charging points, and battery swapping facilities
- Environmental Impact Goal: Reduce 1 million tonnes of CO₂ emissions annually
- Current Operations: Fleet of 650 LNG trucks serving industries like FMCG, e-commerce, metals, cement, oil & gas, and chemicals
- Cumulative Performance: Over 38 million kilometers covered, reducing CO₂ emissions by 10,000 tonnes
Founder's Background
Anshuman Ruia, the Founder of GreenLine Mobility Solutions Ltd., established the company in 2021 with a vision to provide sustainable logistics solutions in India. Under his leadership, GreenLine has focused on deploying LNG and electric-powered trucks for both long-haul and short-haul transportation. Mimani's background includes significant experience in the energy and logistics sectors, positioning him to drive GreenLine's mission of decarbonizing India's transportation industry.
Funding Details
The $275 million equity round, with significant contribution from the Essar Group, is earmarked for expanding GreenLine's green logistics infrastructure. Nikhil Kamath's $20 million investment underscores growing investor confidence in sustainable transportation solutions. The funds will facilitate the deployment of over 10,000 LNG and EV trucks and the establishment of a nationwide network of refueling and charging stations.