Transvolt Mobility has secured a major boost in its $50 million funding round, with IFC Asia Pacific investing $20 million in equity—marking the World Bank Group member’s first-ever equity investment in an EV platform, both in India and globally.

The investment will help Transvolt scale its electric fleet to 3,500 vehicles, including buses and trucks, and support its long-term goal of deploying 8,000 heavy commercial electric vehicles across the country.

Transvolt operates an OEM-agnostic electric vehicle platform that serves a wide range of mobility needs—from intracity buses and airport shuttles to employee transport and electric trucks—working with cities, corporates, and logistics providers to accelerate the shift to clean transportation.

The IFC funding signals strong global interest in India's growing EV sector and the critical role commercial electric fleets will play in building sustainable urban transport systems.