Nikhil Kamath backs $30 mn funding in Blue Energy Motors, makes first bet on commercial EVs

Mumbai: Zerodha co-founder Nikhil Kamath has joined a $30 million (₹264 crore) funding round of Blue Energy Motors, marking his first investment in India's growing commercial vehicle industry.

The round, which also saw participation from Omnitex Industries, boosted total capital raising by the Pune-based startup to $50 million. Blue Energy did not disclose the size of Kamath's investment.

Blue Energy, which produces LNG-powered trucks for heavy-duty applications, will use the fresh capital to support its diversification into electric trucks, particularly models designed for long-haulage, a segment still nascent in India's EV landscape.


For Kamath, who has built a reputation as one of India's most active startup investors with bets spanning consumer brands, cleantech, edtech, EVs and gaming, this marks a major extension of his portfolio into green mobility in the commercial transport space.

"The future of logistics in India will be built on clean, scalable technology. The real opportunity lies in solutions that don't just chase disruption, but deliver it quietly, efficiently, and at scale. Blue Energy has done that well," said Kamath, in a company statement.

Blue Energy, founded by entrepreneur Anirudh Bhuwalka, has positioned itself as a pioneer in alternative-fuel trucking. Backed by the Essar Group, the company has been scaling its LNG truck business while preparing for an EV-led future.

"The fresh fund raise empowers Blue Energy Motors to accelerate India's shift to clean, sustainable freight transportation," said Bhuwalka.

This January, Blue Energy signed a MoU with the Maharashtra government to build a ₹3,500-crore manufacturing facility for electric trucks. The proposed plant will give Blue Energy a strong manufacturing backbone as it takes on domestic rivals and potential global entrants in the e-truck space.