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Electric vehicle battery swapping startup Battery Smart has raised $25 million in a funding round led by Tiger Global, with participation from Blume Ventures and Orios Ventures. In November 202, it raised $7 million from Blume Ventures, Orios Ventures and others.
The company will use the fresh funds to expand to new cities, strengthen its battery assignment technology, and build its team to continue scaling operations.
“We are thrilled to have Tiger Global be a part of our journey to build India’s largest EV battery swapping network. With this investment, we are focused on bringing our offerings to even more EV users pan-India, by increasing the number of Swap stations and continuing to partner with OEMs and fleet operators. We are also looking to strengthen our technology for effective network planning and make key hires in our growing team,” said Pulkit Khurana, co-founder, Battery Smart.
“Battery Smart’s tech-powered battery-swapping network offers an innovative solution to power India’s rapid adoption of EVs for food delivery and e-commerce. We are excited to partner with Battery Smart team as they rapidly expand their footprint in key markets,” said Connie Lee, partner, Tiger Global.
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