TL;DR
Indian EV battery-swapping startup Battery Smart raised $45M to expand its network nationwide, tackling range anxiety and boosting electric two-wheeler adoption.
Battery Smart, a leading Indian battery-swapping network for electric two- and three-wheelers, has successfully raised $45 million in a new funding round. This substantial investment is earmarked to significantly expand its battery swapping infrastructure across India, addressing one of the major pain points of EV adoption: range anxiety and long charging times. The company's model allows EV users to quickly exchange depleted batteries for fully charged ones at its network of stations, offering a convenient and cost-effective alternative to traditional charging. With this fresh capital, Battery Smart aims to accelerate its growth, penetrate new cities, and enhance its technological capabilities, including advanced battery management systems. The expansion is critical for supporting the rapidly growing fleet of electric two-wheelers, particularly in the last-mile delivery and shared mobility segments, thereby strengthening India's EV ecosystem.