Battery Smart's $29 Million Boost: A Leap Towards Electric Mobility
June 6, 2025, 3:34 am
Location: India, Haryana, Gurugram
Employees: 51-200
Founded date: 2019
Total raised: $342.06M
Battery Smart, a trailblazer in the battery swapping arena, has just secured a hefty $29 million in funding. This investment, part of an ongoing Series B round, is a significant step forward for the company. Led by Rising Tide Energy, a New York-based private equity firm, the funding also saw participation from responsAbility, Ecosystem Integrity Fund, and LeapFrog Investments.
The electric vehicle (EV) landscape is evolving rapidly. Battery Smart is at the forefront, pushing the boundaries of what’s possible in India’s electric mobility sector. Founded in 2019 by Pulkit Khurana and Siddharth Sikka, the company is based in Gurugram. It specializes in lithium-ion battery swapping services tailored for electric two- and three-wheelers. This innovative approach allows drivers to swap depleted batteries for fully charged ones in mere minutes, eliminating the long wait times associated with traditional charging methods.
With over 1,518 battery swapping stations across 321 locations in Delhi, Battery Smart has facilitated an impressive 74.9 million swaps. The company currently boasts a user base of over 68,036 EV drivers. This robust network positions Battery Smart as a key player in India’s battery swapping ecosystem, commanding a 36% market share. It competes with other notable players like VoltUp, SUN Mobility, and Mooving.
The newly acquired funds will be strategically deployed to enhance Battery Smart's presence in existing cities while also paving the way for expansion into new markets. This dual approach aims to accelerate EV adoption across India, a country where the need for sustainable transportation solutions is more pressing than ever.
Battery swapping is not just a convenience; it’s a game-changer. It offers a faster, more efficient alternative to conventional EV charging. By eliminating wait times, it enables higher vehicle utilization. This is particularly beneficial for commercial fleets, last-mile delivery services, and shared mobility solutions. In a world where time is money, Battery Smart’s model is a beacon of efficiency.
The company’s last funding round in May 2024 raised $73.9 million, showcasing a strong investor interest in its business model. As of May 2025, Battery Smart was valued at $451 million, reflecting its rapid growth and potential in the burgeoning EV market. The investment landscape for battery swapping is heating up, and Battery Smart is well-positioned to capitalize on this momentum.
The need for innovative solutions in the EV sector is underscored by the increasing demand for sustainable transportation. As cities grapple with pollution and traffic congestion, battery swapping emerges as a viable solution. It not only reduces the time spent charging but also encourages higher asset utilization. This makes it an attractive option for businesses that rely on quick turnaround times.
Battery Smart’s infrastructure is scalable, which means it can adapt to the growing needs of the market. As more consumers and businesses shift towards electric vehicles, the demand for efficient energy replenishment solutions will only increase. Battery Smart is ready to meet this demand head-on.
The company’s focus on two- and three-wheelers is particularly strategic. In India, these vehicles are a common sight on the roads. They are often used for personal transport as well as commercial purposes. By catering to this segment, Battery Smart taps into a vast market with significant growth potential.
The rise of electric mobility is not just a trend; it’s a revolution. Battery Smart is leading the charge, quite literally. With its innovative battery swapping model, the company is making electric vehicles more accessible and practical for everyday use.
As the world shifts towards greener alternatives, Battery Smart’s role becomes increasingly crucial. The funding will enable the company to enhance its services, expand its reach, and ultimately contribute to a more sustainable future.
In conclusion, Battery Smart’s recent funding round is a clear indication of the growing confidence in the battery swapping model. With a solid foundation and ambitious plans for expansion, the company is poised to play a pivotal role in India’s electric mobility landscape. The road ahead is bright, and Battery Smart is ready to accelerate into the future.
The electric vehicle revolution is here, and Battery Smart is at the wheel. With each battery swap, they are not just powering vehicles; they are powering a movement towards a cleaner, more efficient world. The journey has just begun, and the destination is a sustainable future for all.
The electric vehicle (EV) landscape is evolving rapidly. Battery Smart is at the forefront, pushing the boundaries of what’s possible in India’s electric mobility sector. Founded in 2019 by Pulkit Khurana and Siddharth Sikka, the company is based in Gurugram. It specializes in lithium-ion battery swapping services tailored for electric two- and three-wheelers. This innovative approach allows drivers to swap depleted batteries for fully charged ones in mere minutes, eliminating the long wait times associated with traditional charging methods.
With over 1,518 battery swapping stations across 321 locations in Delhi, Battery Smart has facilitated an impressive 74.9 million swaps. The company currently boasts a user base of over 68,036 EV drivers. This robust network positions Battery Smart as a key player in India’s battery swapping ecosystem, commanding a 36% market share. It competes with other notable players like VoltUp, SUN Mobility, and Mooving.
The newly acquired funds will be strategically deployed to enhance Battery Smart's presence in existing cities while also paving the way for expansion into new markets. This dual approach aims to accelerate EV adoption across India, a country where the need for sustainable transportation solutions is more pressing than ever.
Battery swapping is not just a convenience; it’s a game-changer. It offers a faster, more efficient alternative to conventional EV charging. By eliminating wait times, it enables higher vehicle utilization. This is particularly beneficial for commercial fleets, last-mile delivery services, and shared mobility solutions. In a world where time is money, Battery Smart’s model is a beacon of efficiency.
The company’s last funding round in May 2024 raised $73.9 million, showcasing a strong investor interest in its business model. As of May 2025, Battery Smart was valued at $451 million, reflecting its rapid growth and potential in the burgeoning EV market. The investment landscape for battery swapping is heating up, and Battery Smart is well-positioned to capitalize on this momentum.
The need for innovative solutions in the EV sector is underscored by the increasing demand for sustainable transportation. As cities grapple with pollution and traffic congestion, battery swapping emerges as a viable solution. It not only reduces the time spent charging but also encourages higher asset utilization. This makes it an attractive option for businesses that rely on quick turnaround times.
Battery Smart’s infrastructure is scalable, which means it can adapt to the growing needs of the market. As more consumers and businesses shift towards electric vehicles, the demand for efficient energy replenishment solutions will only increase. Battery Smart is ready to meet this demand head-on.
The company’s focus on two- and three-wheelers is particularly strategic. In India, these vehicles are a common sight on the roads. They are often used for personal transport as well as commercial purposes. By catering to this segment, Battery Smart taps into a vast market with significant growth potential.
The rise of electric mobility is not just a trend; it’s a revolution. Battery Smart is leading the charge, quite literally. With its innovative battery swapping model, the company is making electric vehicles more accessible and practical for everyday use.
As the world shifts towards greener alternatives, Battery Smart’s role becomes increasingly crucial. The funding will enable the company to enhance its services, expand its reach, and ultimately contribute to a more sustainable future.
In conclusion, Battery Smart’s recent funding round is a clear indication of the growing confidence in the battery swapping model. With a solid foundation and ambitious plans for expansion, the company is poised to play a pivotal role in India’s electric mobility landscape. The road ahead is bright, and Battery Smart is ready to accelerate into the future.
The electric vehicle revolution is here, and Battery Smart is at the wheel. With each battery swap, they are not just powering vehicles; they are powering a movement towards a cleaner, more efficient world. The journey has just begun, and the destination is a sustainable future for all.