Battery Smart operates a battery-as-a-service platform that lets EV drivers swap depleted batteries for charged units in minutes, reducing vehicle downtime and upfront costs. The company serves primarily last-mile delivery and passenger mobility segments and partners with local operators to run its stations. It currently runs more than 1,600 partner-led stations across 50 cities. Battery Smart plans to expand its BaaS infrastructure and network of partner stations, with the recent debt funding intended to accelerate that roll-out and improve access for gig workers and fleet operators. The startup has raised about $192 million to date, including a $65 million Series B and a $29 million extended Series B. Financially, the company reported a 52% year-on-year increase in operating revenue to Rs 249 crore in FY25 and stated it has reached operating break-even and become EBITDA positive.

Total raised

$166M

Funding rounds

6

Latest round

Series C

Latest activity

Aug 2026