Battery Smart raises $7M in pre-Series A round
Battery Smart recently raised $7 million in its pre-Series A round of funding led by Blume Ventures and Orios Ventures. The round also saw participation from Green Frontier Capital, Baring Private Equity India, along with angel investors like Srinivas Anumolu (Elance, TutorVista, Bigbasket, Bluestone), K Ganesh (GrowthStory.in), Niraj Singh, (Spinny), and Amit Bhasin (GoMechanic), among others.
The company plans to utilise the capital raised to strengthen the startup’s product offerings, scale its operations, and expand operation into three new states.
Battery Smart co-founder Pulkit Khurana stated, “Battery swapping addresses major deterrents to EV adoption like range anxiety, high up-front costs, and long downtimes. The funds raised will help us expand our presence pan-India, strengthen our technology, and make key hires.”
Founded by Khurana and Siddharth Sikka, Battery Smart is battery-as-a-service startup that offers interoperable battery swapping for electric vehicles. The company currently has 100 swapping stations across Delhi-NCR.
Commenting on the investment, Orion Ventures Managing Partner Anup Jain stated, “The Battery Smart team has demonstrated that they can create not only a capital-efficient, profitable business model but also deliver large scale ESG impact in the country. This is a rare achievement that very few businesses can claim at this time.”
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