The battery swapping startup Battery Smart has announced that it has closed a Series A round of $25 million led by Tiger Global, along with participation from Blume Ventures and Orios Ventures.
According to a press release from the company, the funds will be utilised to expand to new territories, strengthen its Battery Assignment Technology, and build its team to continue scaling operations.
Pulkit Khurana, Co-Founder, Battery Smart, said, “With this investment, we are focused on bringing our offerings to even more EV users pan-India, by increasing the number of Swap Stations and continuing to partner with OEMs and fleet operators. We are also looking to strengthen our technology for effective network planning and make key hires in our growing team.”
Earlier in November 2021, the startup also raised $7 million in a pre-series A round led by Blume Ventures and Orios Ventures, along with notable angel investors.
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