BatterySmart

E-Mobility, Social Upliftment

BatterySmart

India’s #1 battery swapping network for 2/3-wheeler EVS

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Founders: Pulkit Khurana, Siddarth Sikka
Co-investors:
Impact and highlights:
335K tonnes of CO₂e emissions saved
$21M in station partner income
2,486M emission-free km
₹820 crore in driver income
1,400+ stations across 40 cities

Overview

Battery Smart is building India’s largest network of battery swapping stations.
It provides Lithium-Ion batteries to drivers of two- and three-wheeler EVs on a pay-per-use basis through an asset-light network of swap stations run by strategic partners. The company is well positioned to capitalize on India’s e-mobility growth. With the world’s largest population and a GDP per capita nearing $3,000, India stands at a key economic inflection point and is poised to become a leading driver of global economic growth. A major shift toward electric vehicles is already underway among commercial two- and three-wheelers, with numbers expected to rise from 3.4 million in 2025 to a projected 30 million by 2030.

Journey

2019
BatterySmart founded.
2020
First battery-swapping station opened.
2021
Raised seed funding round led by Orios Venture Partners.
Raised pre-series A funding round led by Blume Ventures.
2022
1M+ batteries swapped.
BatterySmart active in 10+ cities.
Raised $25M series A funding round led by Tiger Global.
Serving 10k+ customers.
2023
10M+ batteries swapped.
Raised $33M pre-series B round led by British International Investment, Ecosystem.
Integrity Fund, Tiger Global, et al.
25M+ batteries swapped.
2024
1,000th battery-swapping station opened.
Raised $65M series-B funding round led by LeapFrog Investments, MUFG Bank, Panasonic, et al.
50m+ batteries swapped.

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