Battery Smart, a fast-growing Indian battery swapping network for electric two and three-wheelers has set up its 100th Swap Station at Kapashera in Gurugram. This is a significant achievement for the company as it empowers the company to service over 5000 vehicles daily.
This year in February the startup raised an undisclosed amount in its seed funding round led by early-stage VC firm Orios Venture Partners.
Operationalized in June 2020, Battery Smart is revolutionizing the EV sector by addressing one of the major deterrents to EV adoption – lack of swapping infrastructure. To make the adoption of electric mobility simple, economical, and accessible, the company has powered over 5 million electric km and has completed more than 1.5 Lakh battery swaps to date.
Battery Smart provides advanced lithium-ion batteries for electric rickshaws on a membership basis. Drivers can stop at any of the company’s partner swapping stations and get a fully charged battery to replace a discharged unit.
“Every day, we see more electric two and three-wheelers rapidly adopting battery swapping as they find it a superior alternative to operating on fixed batteries with limited range availability,” said Pulkit Khurana, Co-Founder of Battery Smart.
The company has also partnered with local stores along high-traffic routes, enabling an additional source of income for shop owners. Its small store partners are provided with smart chargers and a mobile app to run the swap operations at their premises.
Speaking about the factors contributing to this milestone Pulkit said “Our strategic partner-led model offers partners attractive income opportunities, which has helped us scale rapidly and meet the growing EV battery swapping demand in the region,”
Battery Smart has ambitious growth plans and is targeting a $17b swapping market by 2025. The company aims to have a swapping station at every one square km area in the Delhi-NCR region by December 2021. This is just the start – looking ahead, Battery Smart plans to expand into other cities across India.
“Our data and analytics-driven platform drives high utilization from the very beginning and enables us to identify and set up our Swap Stations. It has enabled drivers to double their income by ensuring access to charged batteries within a 1km radius with zero wait time,” said Siddharth Sikka, Co-Founder of Battery Smart.