Battery Smart
Latest round
- —
Last raised
- Oct 2026
Total raised
- $98M
Investors
- 13
About Battery Smart
Based in Gurugram, India, founded in 2019, Upgrid Solutions Private Limited, trading as Battery Smart develops a range of swappable battery systems for double, triple and four wheelers. The company was co-founded by Pulkit Khurana (CEO as of 2026) and Siddharth Sikka. Battery Smart develops a retrofittable 48V Li-ion twin battery system for electric rickshaw models. Battery Smart also provides a network of EV-battery swapping stations for three-wheeled electric rickshaws. Through an asset-light model, Battery Smart provides sustainable and convenient Li-ion battery solutions across a network of partner swap stations. Battery Smart generates revenue primarily through fees charged for its battery-as-a-service (BaaS) model, where electric vehicle users pay per battery swap or via subscription plans for access to charged batteries. The company also earns from partnerships with fleet operators and delivery platforms, offering bulk usage plans and integrated solutions. Additional revenue comes from leasing batteries and infrastructure to partners, as well as enabling station operators through a revenue-sharing model, where local entrepreneurs run swapping stations within its network.
Who invested in Battery Smart
13 investors across 7 rounds
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Funding rounds
Round
Oct 17, 2026
Amount
$1M
Investors
Series C
Aug 21, 2026
Amount
$10M
Investors
Series C
Aug 21, 2026
Amount
$9.2M
Investors
Series B
Mar 30, 2025
Amount
$7.6M
Investors
Series B
Jun 13, 2024
Amount
$45M
Investors
Series A
Jun 22, 2022
Amount
$25M
Investors
Seed
Feb 29, 2020
Amount
$0.4M
Investors
Questions about Battery Smart
Who invested in Battery Smart?
Battery Smart has 13 investors on record across 7 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Battery Smart raised?
Battery Smart has raised 7 venture rounds. Sign up free to see how much each round raised and the total.
What does Battery Smart do?
Based in Gurugram, India, founded in 2019, Upgrid Solutions Private Limited, trading as Battery Smart develops a range of swappable battery systems for double, triple and four wheelers.
Where is Battery Smart headquartered?
Battery Smart is headquartered in Gurgaon, India.
Which VCs invest in companies like Battery Smart?
Among active investors with capital left to deploy, Shanghai State-owned Capital Investment Leading Fund, Hui Hua Fund, Yufu Capital and ICBC Capital Management back energy storage & batteries companies at Battery Smart's stage. Their profiles are linked below.
VCs backing energy storage & batteries startups
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