Battery Smart Raises $33 Million in Funding

Battery Smart is an EV battery-swapping network that allows EV owners to easily exchange their depleted batteries for fully charged ones within minutes. By strategically locating swapping stations throughout cities, the company aims to minimize travel distance and energy consumption during battery exchanges. Battery Smart also caters to the needs of various businesses that rely on electric two and three-wheelers, such as delivery services or rental companies.

Battery Smart has raised $33 million from existing investors Tiger Global and Blume Ventures in a ‘Pre-Series B funding round’. New investors The Ecosystem Integrity Fund (EIF) and British International Investment (BII) also participated in the round. Pulkit Khurana, cofounder and CEO of Battery Smart, did not undisclose the valuation at which the funds were raised, but said it wasn’t lower than that at the time of its last fundraise.

Battery Smart, Gurgaon, Haryana, India, was founded in 2019 by Pulkit Khurana and Siddharth Sikka. “Tiger Global and Blume Ventures have really witnessed our growth from around 1,000 customers to around 25,000 customers now. We are also excited to work with EIF and BII now, as both of them bring strong vision around ESG goals and very strong passion around sustainability, which we share as a company,” Pulkit Khurana noted.

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