RACEnergy offers battery-swapping technology for electric two- and three-wheelers. Founded in 2019 by BITS Pilani alumni Arun Sreyas and Gautham Maheswaran and based in Hyderabad, the startup is expanding its network nationally through partnerships with HPCL and Hala Mobility. It will use the $3 million to enhance its technology and build new facilities to support operations. The recent raise was a pre-Series A round made up of debt and equity instruments. Between January 2020 and September 2022 RACEnergy previously raised $2.11 million from investors including Micelio Fund, growX Ventures, Huddle, Prophetic Ventures, AngelList and BITSian Angels. The company is focused on scaling physical infrastructure and tech capability to serve electric two- and three-wheeler fleets and users.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2019