Battery Smart raises US$33 million in Pre-Series B funding

This investment also demonstrates the brand’s commitment to improving the livelihoods of station partners and drivers.

Battery Smart, a battery swapping network, announced on Thursday that it has raised US$ 33 million (about Rs 272 crore) in a pre-Series B fundraising round. According to a release, the new funds will add 1 lakh new subscribers to its network by 2025 and expand its coverage across the country.

Tiger Global and Blume Ventures and new investors The Ecosystem Integrity Fund (EIF) and British International Investment participated in the Pre-Series B investment round (BII).

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With 25,000 active customers in Tier 1, 2, and 3 cities, the company is excited to reinforce ESG objectives while assisting India in its pursuit of net-zero emissions. This investment also demonstrates the brand’s commitment to improving the livelihoods of station partners and drivers, allowing them to play an important role in India's transition to electric transportation.

Tiger Global led a US$ 25 million Series A fundraising round for Battery Smart in June 2022, with help from Blume Ventures and Orios Ventures.