Livguard Acquires Emuron Technologies to Enter Electric Vehicle Battery Swapping Space

• ByStartupStory     |    December 21, 2023

Livguard, the energy solutions brand under SAR Group, has announced its acquisition of Delhi NCR-based startup Emuron Technologies, marking its entry into the electric vehicle (EV) battery swapping sector. The financial details of the deal were not disclosed by the company.

Founded in 2018 by Kunal Garg, Vedant Khanna, and Vibhor Bharti, Emuron Technologies is a bootstrapped startup specializing in battery swapping and IoT solutions for EV businesses in India. The company’s offerings include a battery tracking system for monitoring battery health, location, and utilization, a customizable smart electrical cabinet for swapping Li-ion batteries, and a battery intelligence platform providing utilization reports and aging predictions. Emuron is also working on a battery management system.

Commenting on the acquisition, Rakesh Malhotra, cofounder of SAR Group, expressed Livguard’s intention to leverage Emuron’s battery-swapping technology alongside its existing battery expertise. He stated, “Our comprehensive solutions, combined with our EV subsystems portfolio, position us as a one-stop shop for all 2 and 3-wheeler EV OEMs.”

SAR Group, which owns Livfast and Mooving among other companies, launched Livguard in 2014, offering energy-related solutions such as automotive batteries, inverters, and residential solar panels. The group recently ventured into the EV business with the introduction of Lectrix EV.

Gurpreet Bhatia, Livguard’s chief executive, emphasized the company’s commitment to research, development, innovation, and Make in India initiatives. He revealed Livguard’s ongoing efforts to develop a unique energy services ecosystem for the two- and three-wheeler EV industry. Following the acquisition, Livguard plans to rapidly deploy swapping stations in key markets to address the range anxiety of electric vehicles.

The move by Livguard comes at a time when the Indian EV space is witnessing significant activity, including discussions about Tesla’s potential entry into the market and the anticipated IPO of Ola Electric. Other developments in the sector include EV charging startup Exponent Energy securing INR 220 crore ($26.4 million) in its Series B funding round to enhance manufacturing and business operations, and Macquarie Capital’s undisclosed investment in EV charging startup ChargeZone to support the development of its cloud technology-enabled charging network.

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