Battery Smart Appoints Amit Bhardwaj as Chief Financial Officer to Drive Financial Strategy and Growth
- ByStartupStory | November 26, 2024
Battery Smart, India’s leading battery-swapping network for electric two- and three-wheelers, has announced the appointment of Amit Bhardwaj as its Chief Financial Officer (CFO). With a strong background in financial strategy, risk management, and business growth, Bhardwaj’s induction into the leadership team is expected to propel Battery Smart’s expansion in the electric mobility space.
Prior to joining Battery Smart, Bhardwaj served as Vice President and Group Finance Controller at Shiprocket. He brings years of expertise in optimizing financial operations and enabling sustainable growth in dynamic industries.
Battery Smart provides advanced lithium-ion batteries for electric vehicles, offering its innovative battery-as-a-service (BaaS) solution that allows users to swap batteries quickly at its extensive network of swapping stations. The BaaS model reduces high upfront costs for users, making electric vehicle ownership more accessible.
The announcement follows a landmark achievement for the company, which reported a 195% rise in revenue from operations, reaching ₹164.6 crore in FY24 compared to ₹55.9 crore in FY23. Earlier in June this year, Battery Smart also secured $65 million in its Series B funding round, led by LeapFrog Investments and other key investors.
In a bid to strengthen its operational footprint, Battery Smart has also entered a strategic partnership with quick-commerce platform Zepto. This collaboration aims to deploy 1,000 electric vehicles by FY25, enabling Zepto’s delivery partners to leverage Battery Smart’s swapping network for seamless and efficient charging.
A company representative stated, “This partnership will enable Zepto’s delivery partners to leverage Battery Smart’s swapping network, ensuring uninterrupted delivery operations. It’s a step forward in reducing the carbon footprint of last-mile deliveries.”
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