Funding Alert

Electric vehicle startup Battery Smart raises undisclosed amount in a seed round led by Orios Venture Partners

India’s largest electric vehicle battery swapping network, Battery Smart raised an undisclosed amount through a seed round led by Orios Venture Partners. The funding round also saw participation from angel investment platform Faad Network.

The startup provides advanced Li-ion batteries to e-rickshaws. The drivers can stop at the company’s partner swapping stations and get a fully charged battery against a discharged battery.

The co-founders Pulkit Khurrana and Sidharth SikkaThe earnings of E-Rickshaw drivers is capped as they use lead acid batteries that need 10 hours of charging time and have a limited battery life of 6 months.

With Battery Smart, we plan to change that. Now, they will have access to a retrofittable Li-ion battery-as-a-service solution that provides them with a ‘two-minute’ battery swapping facility. We are addressing the issue of range anxiety associated with EVs, reducing the downtime of E-rickshaws to zero and effectively doubling their daily earning.”

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