Battery Smart raises ₹185.5cr Series C to expand swap network
Business
Battery Smart, the startup making it easier for EV users to swap batteries instead of buying them, just raised ₹185.5 crore ($19.5 million) in Series C funding.
Led by Rising Tide Ventures, with Ecosystem Integrity Fund and Blume Ventures joining in, this cash boost will help the company expand and keep things running smoothly.
Battery Smart posts ₹358cr FY26 revenue
Rising Tide Ventures put in the biggest chunk, ₹112 crore ($11.8 million), while Ecosystem Integrity Fund and Blume Ventures added ₹49 crore and ₹25 crore.
Launched in 2020, Battery Smart's swap network is catching on: its revenue jumped 43.8% to ₹358 crore in FY26, while losses dropped by nearly 13%.
After this round, the company is valued at about $430 million and has now raised over $211 million so far.