What is Battery Smart?
Established in 2019, Battery Smart provides a robust infrastructure solution designed to simplify EV adoption by making energy access economical and ubiquitous. By deploying a vast network of battery-swapping stations, the company effectively removes the primary barriers of range anxiety and high upfront costs for electric vehicle owners. As India's largest battery-swapping network, Battery Smart serves as a foundational pillar for the country's transition toward sustainable urban mobility, bridging the gap between traditional transport and clean energy alternatives.
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 Orios Venture Partners and Blume Ventures
Series A (2022): $25M, investors not publicly disclosed
Debt (2022): $9M supported by Stride Ventures
Other Financing Round (2023): $33M featuring British International Investment, Tiger Global, and Blume Ventures
Series B (2024): $65M backed by Panasonic, MUFG Bank, LeapFrog Investments, and Ecosystem Integrity Fund
Series B (2025): $29M with participation from LeapFrog Investments, Rising Tide Energy, Ecosystem Integrity Fund, and responsAbility
Key Investors in Battery Smart
LeapFrog Investments
LeapFrog invests in exceptional businesses in Africa and emerging Asia, partnering with their leaders to achieve leaps of growth, profitability, and impact.
Ecosystem Integrity Fund
A sustainability-focused venture capital fund that invests in early growth stage companies contributing to environmental sustainability and the transition to clean energy.
Panasonic
A global leader in electronics and manufacturing, Panasonic provides industrial-grade components and technology solutions for a wide range of consumer and business applications.
What's next for Battery Smart?
With the successful closure of this latest financing round, Battery Smart is well-positioned to deepen its market penetration and enhance its technological infrastructure. The company is expected to leverage this capital to expand its network density across key urban centers, further optimizing its swapping efficiency and integrating advanced energy management systems. As the firm moves beyond its current scaling phase, the focus will likely shift toward long-term operational sustainability and the potential for cross-sector partnerships within the broader green energy landscape, ensuring it remains at the forefront of the electric mobility revolution.
See full Battery Smart company page
