Transvolt Mobility designs, produces and deploys heavy commercial electric vehicles such as buses and trucks for municipal corporations, corporate employee transportation and haulage customers. Since inception in FY23 the company has deployed around 500 heavy commercial EVs. With the $20 million equity commitment from IFC—part of a $50 million financing round—Transvolt plans to scale production and grow its fleet to 3,500 vehicles within five years and pursue a long-term target of 8,000 heavy commercial EVs across India. The company aims to demonstrate commercial viability of electric fleets and expand access to electrified urban and industrial transport. The planned expansion is also projected to create about 8,200 jobs over the next five years.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

May 2026