Battery Smart raises $25 mn in fund round led by Tiger Global

NEW DELHI: Battery Smart has announced that it has closed a Series A round of $25 million. The funding round was led by Tiger Global, along with participation from Blume Ventures and Orios Ventures. In November 2021, it raised $7 million in a pre-series A round led by Blume Ventures and Orios Ventures, along with notable angel investors. The funds will be utilised to expand to new territories, strengthen its Battery Assignment Technology, and build its team to continue scaling operations. Battery Smart’s battery-as-a-service model enables interoperable battery swapping for electric vehicles (EVs) in under two minutes and reduces the up-front investment borne by a consumer by up to 60%. The company has completed over 2.5 million battery swaps and powered 80 million emission-free km.