Battery Smart makes a smart move, to supercharge growth with Rs.75 Cr funding

Battery Smart makes a smart move, to supercharge growth with Rs.75 Cr funding

Battery Smart in a bid to expand its network of batteries and reach new cities across the country has drawn out an investment plan amounting to ₹75 Crores.

Battery Smart, which will be available in June 2020, will provide EV-battery swapping stations for electric three-wheeler rickshaws and two-wheelers. The startup claims to be India’s Largest Battery Swapping Network for Electric Vehicles.

Founded by IIT-Kanpur graduates Pulkit Khurana and Siddharth Sikka, Battery Smart is targeting a $17b swapping market by 2025 with the vision to have a Swap Station at every one square km area in the Delhi-NCR region. We are working with various players in the industry, including battery manufacturers, OEMs, the driver community, and startups, to build a robust ecosystem that can help drivers easily shift to a more economical EV model.

“By expanding our footprint across more cities and deploying additional batteries to our network, we hope to reach even more EV users nationwide,” Battery Smart Co-founder Pulkit Khurana said in a statement.

Battery Smart has 300+ live swap stations across 12 cities

The EV Battery firm was Launched in June 2020, aims to revolutionize the EV sector by making electric mobility simple, economical, and accessible through a unique partner-led model. So far has 8000+ electric rickshaws on its platform and 300+ live swap stations across 12 cities.

Founder and Managing Partner, Ishpreet Singh Gandhi, said “We are thrilled to be collaborating with Battery Smart as they seek to expand their innovative business model that connects key players in the electric vehicle ecosystem. Battery Smart is taking a proactive approach to driving the adoption of electric transportation by working to build a robust EV ecosystem, and we are proud to support their efforts “Stride Ventures’ .

The fresh round of funding was raised from Stride Ventures. Stride Ventures reportedly has so far invested in nearly 100 companies, disbursing approximately $400 million across sectors.

The startup raised a $25 million Series A round earlier this year, led by Tiger Global, with participation from Blume Ventures and Orios Ventures. It raised $7 million in a Pre-Series A round led by Blume Ventures and Orios Ventures in November 2021.