Battery swapping platform Battery Smart announced has secured $33 million (about Rs 272 crore) in capital from both new investors The Ecosystem Integrity Fund (EIF) and British International Investment (BII) along with previous backers Tiger Global and Blume Ventures.
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The funds will be used to expand the company’s geographic reach and bring on 1 lakh additional consumers by the year 2025, as reported by The Economics Times.
“With 25,000 active customers across tier 1, 2 and 3 cities, we are keen to reinforce our ESG objectives while supporting India’s pursuit towards net-zero emissions. This investment also signifies our commitment to enhancing the livelihoods of our station partners and drivers, empowering them to play a significant role in India’s transition towards electric mobility,” Battery Smart cofounder and chief executive Pulkit Khurana stated.
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About Battery Smart
The biggest and most rapidly expanding battery swapping service for electrical two and three-wheelers in India is called Battery Smart, founded by Pulkit Khurana and Siddharth Sikka in June 2020. By adopting a special partner-led strategy, we hope to revolutionize the EV industry by making electric transport simple, affordable, and accessible.
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