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Battery Smart raised $45M in a Series B funding round led by Acacia Inclusion Limited and others

May 16, 2024•about 1 year ago

Amount Raised

$45 Million

Round Type

series b

GurgaonSoftware

Investors

British International InvestmentThe Ecosystem Integrity FundBlume VenturesMufg BankAcacia Inclusion Limited

Description

Battery Smart, a Gurugram-based battery tech startup, has raised $45 million in a Series B funding round from investors including Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment. The company plans to use the funds to expand its swapping stations and further develop its battery technology.

Company Information

Company

Battery Smart

Location

Gurgaon, Haryana, India

About

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 our asset-light network of partner swap stations.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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