Archive · 22 Aug 2025
Macquarie Raises $405M for Indian EV Platform Vertelo
A company called Vertelo, which helps businesses use electric vehicles (EVs), just got a big $405 million boost.
Most of this money came from investors and the Green Climate Fund, which supports environmentally friendly projects.
Vertelo helps businesses switch to EVs by offering services like car rentals, setting up charging stations, and managing fleets.
They are working with major EV manufacturers in India.
Because of government focus and growing interest, the EV market in India is expected to grow a lot in the coming years.
Macquarie Asset Management secured $405 million for Vertelo, an Indian EV platform.
$205 million came from institutional investors, with $200 million from the Green Climate Fund.
Vertelo provides integrated fleet electrification solutions in India.
The platform has partnerships with leading original equipment manufacturers.
India's EV market is projected to reach $59 billion by 2035.
- Who
- Macquarie Asset Management and partners like the Green Climate Fund.
- What
- Macquarie raised $405 million for Vertelo, its Indian electric vehicle platform.
- When
- April 2024 (based on launch date) and August 2025 (based on publication date).
- Where
- India.
- Why
- To support the growth of EVs and capitalize on the expanding Indian EV market.
- Funding Amount
- $405 million
- Investors
- Institutional investors, Green Climate Fund, Macquarie Green Energy Transition Solutions Fund, Allianz Global Investors, and Australian Ethical
- Platform
- Vertelo
- Services
- Fleet electrification solutions
- Partners
- Eka Mobility, JBM, MG Motors, Switch Mobility, Tata Motors and Eicher Volvo
- Market Projection
- 27% CAGR to $59 billion by 2035
