By PMI Electro Mobility, a leading electric bus manufacturer in India, has successfully raised INR 250 Cr (approximately $29 million) in a strategic funding round. The investment comes from Authum Investment & Infrastructure, Nikhil Kamath-backed Gruhas, Antique Securities, and several HNI family offices. This funding marks a significant milestone in PMI’s journey toward sustainable urban transportation.
How PMI Plans to Utilize the Funding?
The company has announced that the funds, raised through a preferential allotment of equity shares, will be utilized to:
✅ Develop innovative electric mobility solutions for India’s growing EV market.
✅ Enhance production capabilities to meet increasing demand.
✅ Scale operations across the country to expand its fleet and improve service networks.
PMI Electro Mobility’s Growth & Impact
Founded in 2017, PMI Electro Mobility has rapidly emerged as a key player in India’s electric bus manufacturing industry. The company claims that:
🚍 2,000+ PMI eBuses are currently operational across 31 cities in India.
📍 Its buses run in diverse locations, from the high-altitude region of Leh to southern Indian cities.
By expanding its footprint, PMI is contributing to India’s push for sustainable public transport, reducing carbon emissions, and promoting eco-friendly urban mobility.
India’s Growing EV Market & PMI’s Role
With the Indian government actively supporting electric vehicle adoption through policies like the FAME II scheme, PMI Electro Mobility is well-positioned to capitalize on the rising demand for zero-emission public transport. The fresh capital injection will enable PMI to further solidify its leadership in EV technology and sustainable urban transit solutions.
The Road Ahead for PMI Electro Mobility
As India moves toward cleaner and more efficient public transport solutions, PMI’s expansion will play a crucial role in shaping the future of electric mobility. With the latest funding boost, the company is set to scale its operations, develop cutting-edge electric buses, and reinforce its commitment to sustainable urban transportation.
