Delhi-Based Startup Battery Smart Raises Undisclosed Amount In A Seed Funding Round
Battery Smart, a Delhi-based startup, announced the closure of its seed round of an undisclosed amount led by Orios Venture Partners, an early-stage venture capital fund.
The funding round also saw participation from angel investment platform Faad Network.
Battery Smart is building India’s largest network of battery swapping stations providing Li-ion batteries on a pay-per-use basis for the drivers of three-wheeled electric rickshaws through their asset-light network of partner swap stations.
Battery Smart | Network Of Battery Swapping Stations For Electric Two And Three Wheelers
Founded by IIT Kanpur alumni Pulkit Khurana and Siddharth Sikka in 2020, Battery Smart provides advanced Li-ion batteries to e-rickshaws on a membership basis. E-rickshaws drivers can stop at any of the startup’s partner swapping stations, and get a fully charged battery against a discharged battery, and be back on the road to continue their business.
Talking about the benefits Battery Smart provides to E-rickshaws driver, Pulkit Khurana and Siddharth Sikka, Co-founders of Battery Smart, said,
“The earnings of e-rickshaw drivers is capped as they use lead-acid batteries that need 10 hours of charging time and have a limited battery life of six months. With Battery Smart, we plan to change that. Now, they will have access to a retrofittable Li-ion battery-as-a-service solution that provides them with a ‘two-minute’ battery swapping facility.”
Battery Smart already has a network of 25 operational battery swap stations in Delhi, carrying over 1000 battery swaps every week.
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