India, Aug. 22 -- Macquarie Asset Management has raised $405 Mn (around INR 3,542 Cr) for Vertelo, its fleet electrification platform targeting India's rapidly expanding electric vehicle market.

The funding includes $205 Mn from institutional investors and $200 Mn in concessional capital from its anchor investor Green Climate Fund. Other investors include Macquarie Green Energy Transition Solutions Fund, Allianz Global Investors, and Australian Ethical.

Macquarie said in a statement that the infusion for Vertelo is aimed at accelerating EV transition and building a robust EV ecosystem in India.

Launched in April 2024 by Macquarie's Green Investment team, Vertelo provides a suite of services ranging from vehicle leasing and financing, c...