Drivn Raises Rs 45 Crore in Seed Funding Led by Avaana Capital
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Khushi Jain
- September 21, 2026
Electric commercial mobility startup Drivn’s Indian entity has raised Rs 45 crore, or $4.7 million, in a seed funding round led by Avaana Capital.
The fundraise comes a few months after Drivn received an $80 million commitment from Japanese financial services group Nomura in February 2026. The latest capital has been raised by Drivn’s Indian operating entity, while its parent holding company is based in Singapore.
According to regulatory filings accessed by Entrackr, the Indian entity’s board approved the allotment of 33,98,792 compulsorily convertible preference shares (CCPS) at an issue price of Rs 132.40 per share. Avaana Capital invested the entire Rs 45 crore in the round.
The company will use the fresh capital to meet its business requirements and for general corporate purposes, according to the filings.
Drivn’s Electric Mobility Business
Founded in 2025 by Manav Bansal and Alpna Jain, Gurugram-based Drivn is building a full-stack electric mobility platform focused on large commercial vehicles.
The startup owns and leases electric intercity buses and heavy-duty trucks, while also offering fleet operations and other services for commercial fleet owners.
Drivn also provides charging infrastructure and battery lifecycle management solutions as it looks to build an integrated platform for businesses transitioning their commercial fleets to electric vehicles.
Shareholding After Fundraise
Following the latest fundraising, Singapore-based Drivn Transition PTE. LTD remains the majority shareholder in the Indian entity with an 88.75% stake.
Avaana Capital holds a 7.22% stake, while co-founder and CEO Manav Bansal owns 4.03%.
Financial Performance
Despite raising capital and securing the Nomura commitment, Drivn’s Indian entity was still at a pre-revenue stage in FY26.
The company reported a loss of Rs 1.96 crore during the financial year, according to its regulatory filings.
FAQs
1. How much funding did Drivn’s Indian entity raise?
Drivn’s Indian entity raised Rs 45 crore, or $4.7 million, in seed funding.
2. Who led Drivn’s latest funding round?
Avaana Capital led the seed funding round and invested the entire Rs 45 crore.
3. How many shares were allotted in the funding round?
The company allotted 33,98,792 compulsorily convertible preference shares at an issue price of Rs 132.40 per share.
4. Who founded Drivn?
Drivn was founded in 2025 by Manav Bansal and Alpna Jain.
5. What was Drivn’s loss in FY26?
Drivn’s Indian entity reported a loss of Rs 1.96 crore in FY26.
