EKA Mobility raises $57 million in Series A round to boost manufacturing
Electric vehicle (EV) manufacturer EKA Mobility has raised $57 million Series A investment led by NIIF India-Japan Fund (IJF).
The electric vehicle maker will use the capital to expand its production capacity, research and development capabilities and supply chain infrastructure, and focus more on marketing efforts both domestically and in international markets.
“Our investment in EKA Mobility continues to reflect our confidence in India’s electric mobility potential and the capacity of domestic OEMs (original equipment manufacturers) to drive meaningful change in the market. IJF supports businesses shaping India’s journey to a low-carbon economy and India-Japan business “We are committed to promoting partnerships,” he said.
The investment is part of the fund’s larger objective to invest in climate technology and increase financial support to companies working in the India-Japan corridor.
“This investment comes at a crucial time when we are expanding our operations, strengthening our R&D and accelerating the adoption of electric mobility across India. NIIF’s support strengthens our shared vision of creating sustainable, inclusive and future-ready transportation solutions,” Dr Sudhir Mehta, founder and chairman of EKA Mobility, said in a statement.
EKA Mobility is a subsidiary of Pinnacle Industries, which produces everything from vehicle interiors to EV components for OEMs.
Other shareholders of the company include Netherlands-based VDL Groep and Japan’s Mitsui & Co. It is located.
The EV company has so far received orders for over 3,300 electric buses from state governments, municipal corporations and private commercial fleets.
EKA’s vehicle portfolio consists of three types of electric buses, intercity buses, three-wheeled passenger and cargo vehicles, heavy-duty trucks and small commercial vehicles in the 1.5 ton, 2.5 ton and 3.5 ton categories.
EKA Mobility is the recipient of the largest seed funding round ever in 2025. The company raised $23 million in April, led by Enam Holdings.
