Battery Smart gets Rs 75 crore from Stride

23 Dec 2022 , 05:25 AM

The Gurugram-based battery switching solutions company Battery Smart has secured Rs 75 crore from Venture debt fund Stride Ventures.

The business declared that it would put the money to use by expanding its services to more cities and adding more batteries to its network. ‘We are thrilled that Stride Ventures will take part in the effort to expand our EV battery-swapping network in India. We want to reach more EV consumers across the country, therefore, we’re extending our footprint across more cities and adding more batteries to our network, ‘said Pulkit Khurana, a co-founder of Battery Smart.

About $400 million has been distributed across sectors by Stride Ventures, which has invested in about 100 businesses. We are thrilled to collaborate with Battery Smart as they work to grow their cutting-edge business model, which links important participants in the electric vehicle ecosystem. We are delighted to support Battery Smart’s efforts because they are adopting a proactive approach to promoting electric vehicles, according to Ishpreet Singh Gandhi, founder and managing partner of Stride Ventures.

This comes after the startup raised $25 million from Tiger Global in a Series A funding earlier this year. Battery Smart received an additional $7 million in funding in November from Blume Ventures and Orios Ventures.