What is Battery Smart?
Established in 2019, Battery Smart is at the forefront of simplifying electric vehicle (EV) adoption in India, making it both economical and easily accessible. The company rapidly scaled its operations following the launch of its first battery-swapping station in June 2020, evolving into India's largest battery-swapping network specifically designed for electric two and three-wheelers. This strategic focus addresses a key bottleneck in EV adoption by providing a convenient and efficient solution for battery management.
How much funding has Battery Smart raised?
Battery Smart has raised a total of $168M across 6 funding rounds:
Other Financing Round
$7M
Series A
$25M
Debt
$9M
Other Financing Round
$33M
Series B
$65M
Series B
$29M
Other Financing Round (2021): $7M with participation from Blume Ventures and Orios Venture Partners
Series A (2022): $25M, investors not publicly disclosed
Debt (2022): $9M supported by Stride Ventures
Other Financing Round (2023): $33M featuring British International Investment, Blume Ventures, and Tiger Global
Series B (2024): $65M backed by Panasonic, LeapFrog Investments, Ecosystem Integrity Fund, and MUFG Bank
Series B (2025): $29M with participation from responsAbility, Rising Tide Energy, Ecosystem Integrity Fund, and LeapFrog Investments
Key Investors in Battery Smart
LeapFrog Investments
LeapFrog Investments focuses on backing exceptional businesses in Africa and emerging Asia, partnering with leaders to achieve significant growth, profitability, and impact. They are based in London, England.
Ecosystem Integrity Fund
The Ecosystem Integrity Fund (EIF) is a venture capital fund dedicated to sustainability, investing in early growth-stage companies that contribute to environmental sustainability and accelerate the transition to a healthier planet.
Panasonic
Panasonic Corporation is a global leader in electronics manufacturing, producing a wide array of products for consumer, business, and industrial uses, with its headquarters in Osaka, Japan.
What's next for Battery Smart?
The substantial capital infusion, particularly the recent strategic investment, positions Battery Smart for accelerated expansion and technological advancement. This backing is expected to fuel the scaling of its network, enhance its technological capabilities, and potentially explore new market segments or partnerships. The company's trajectory suggests a move towards solidifying its market leadership and driving further innovation in the EV battery-swapping ecosystem, contributing to a more sustainable transportation future.
See full Battery Smart company page
