Battery Smart
| File:Battery Smart logo.PNG | |
| Private | |
| ISIN | 🆔 |
| Industry | Electric vehicle battery-swapping |
| Founded 📆 | November 2019 |
| Founders 👔 | Pulkit Khurana, Siddharth Sikka |
| Headquarters 🏙️ | , |
Area served 🗺️ | 25 cities |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Battery Smart is an EV battery-swapping company headquartered in Gurugram, Haryana.[1][2]
History
Battery Smart was established by Pulkit Khurana and Siddharth Sikka, both serial entrepreneurs and graduates of IIT-Kanpur.[3][4] The company was initially known as Upgrid Solutions when it began in November 2019.[5] Commencing operations in June 2020, Battery Smart opened its first swap station in Janakpuri, Delhi.[6]
In February 2021, the company announced its Seed-Round funding, with Orios Venture Partners leading the investment.[6] In November 2021, the company raised $7 million in a pre-Series A funding round, with backing from Blume Ventures and Orios Ventures. Following this, in January 2022, the company forged a partnership with Zypp Electric to integrate 2000 Zypp Electric two-wheelers into their battery-swapping network.[6][7]
As of December 2022, the company had set up over 750 swap stations and was operational in 25 cities,[8] including Varanasi, Agra, Lucknow, Jaipur, Meerut, and Kanpur.[9]
The company also formed partnerships with Zomato,[10] and Tata Power Delhi Distribution Limited (DDL), a major power distribution company serving North Delhi, to set up battery swap stations for electric two- and three-wheelers in the region.[11]
Funding
In November 2021, Battery Smart secured $7 million in pre-Series A funding from investors like Blume Ventures and Orios Ventures.[12]
In June 2022, the company obtained $25 million in Series A funding led by Tiger Global, with participation from Blume Ventures and Orios Ventures.[13] Also, venture debt fund Stride Ventures invested Rs 75 crore.[14]
In 2023, Battery Smart raised $33 million in a pre-Series B round with participation from existing investors, including Tiger Global and Blume Ventures, as well as new investors like the Ecosystem Integrity Fund and British International Investment.[15]
References
- ↑ "Battery Smart FY22 Revenues at Rs 7.95 Crore, Stations Cross 500 Mark - Saur Energy International". www.saurenergy.com.
- ↑ Shruti, Sonal (2022-07-22). "Tiger Global-backed Battery Smart needs to get smarter about swapping". The Ken.
- ↑ "Indian EV battery-swapping network eyes $50m in funding". Nikkei Asia.
- ↑ "Bright future for battery swapping, 45,000 customers in the waiting list | Auto - Times of India Videos". The Times of India.
- ↑ Ashrafi, Md Salman (2023-03-21). "Unpacking Battery swapping startup Battery Smart's FY22 numbers". Entrackr.
- ↑ 6.0 6.1 6.2 "Battery Smart targets new customers and cities". Autocar Professional.
- ↑ "Battery Smart announces partnership with Zypp Electric". Manufacturing Today India.
- ↑ Takkar, Rhydhm. "Battery Smart planning to expand network to 35 cities by December 2023 - ET EnergyWorld". The Economic Times.
- ↑ "Battery Smart completes 10 million swaps for 2, 3-wheelers - ET Auto". ETAuto.com.
- ↑ www.ETAuto.com. "Zomato and Battery Smart join to promote green last-mile deliveries - ET Auto". ETAuto.com.
- ↑ "Tata Power Delhi Distribution partners with Battery Smart". mint. 2022-03-15.
- ↑ Pradeep, Sethu (2021-11-09). "EV Battery Swapping Startup Battery Smart Raises $7 Mn". Inc42 Media.
- ↑ Kaur, Jaspreet (2022-06-27). "Battery Smart Raises $25 Mn To Partner With OEMs And Fleet Operators". Inc42 Media.
- ↑ Chandak, Pooja (2022-12-28). "Stride Ventures Invest Rs 75 Crore In Battery Smart". EMobility+.
- ↑ "Battery Smart raises $33 million". The Times of India. 2023-07-07. ISSN 0971-8257.
External links
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