EV Startup Battery Smart raises $9 million in debt funding from Stride Ventures
- ByStartupStory | December 22, 2022
Stride Ventures has invested more than $9 million (INR 75 crore) in debt funding to EV startup Battery Smart.
According to reports, the key takeaway from the debt funding is that Stride Ventures has provided more than $9 million (INR 75 crore) in debt funding to EV startup Battery Smart.
As of today, the Battery Smart has also obtained $41 million in funding. The news comes just days after EV received funding from venture debt company BlackSoil.
“We are excited to partner with Battery Smart as they look to expand their innovative business model that connects key players in the electric vehicle ecosystem. By working towards building a robust EV ecosystem, Battery Smart is taking a proactive approach to drive the adoption of electric transportation, and we are proud to support their efforts,” said Ishpreet Singh Gandhi, founder and managing partner, Stride Ventures.
The startup claims to have completed over 6 million battery swaps and established over 440 EV swapping stations as part of its strategy of sustainable lifestyle and clean mobility. It also claims to have served over 13K customers in 12+ Indian cities, including Delhi, Gurgaon, Noida, Jaipur, Lucknow, Meerut, and others.
Among its investors are Tiger Global, Blume Ventures, Orios Ventures, Green Frontier Capital, TradeCred, and Baring Private Equity India.
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