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Macquarie raises $405 mn for EV fleet player Vertelo

Mint New Delhi

|

August 23, 2025

Vertelo to drive electrification of fleet, offering infrastructure and partnerships with major OEMs like Tata Motors, MG

- Rituraj Baruah

Macquarie Asset Management has raised $405 million for Vertelo, a fleet electrification solutions platform in India, from a group of investors including Green Climate Fund, Macquarie Green Energy Transition Solutions Fund, Allianz Global Investors and Australian Ethical.

Macquarie Asset Management said the funding includes $205 million from institutional investors and the remaining $200 million in concessional capital from the Green Climate Fund (GCF), the anchor investor.

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