Battery Smart adds ₹98 Cr to Series C
By Abha Lohia ·
Battery Smart valuation
Battery Smart was valued at ₹4,170 Cr (2026). Reported 17 October 2026.
| Valuation (2026) | ₹4,170 Cr |
|---|
Battery Smart: revenue, valuation and funding and every story →
- Battery Smart runs swap stations where electric two- and three-wheeler drivers exchange drained batteries for charged ones
- An existing backer put in about ₹98 crore through convertible preference shares, extending a Series C round that began in August
- The money goes to network growth, equipment and working capital, with more tranches likely; post-money value is near ₹4,170 crore
What happened
- Battery Smart received about ₹98 crore from Ecosystem Integrity Fund.
- Shares issued are compulsorily convertible preference shares priced at ₹54,407 each.
- The round extends the Series C announced in August 2026.
- The company is likely to raise more in tranches.
Why it matters
- The cash funds a bigger swapping network for gig drivers.
- It shows existing investors doubling down on the model.
The business
- Battery Smart operates battery swapping for electric two- and three-wheelers.
- Drivers pay per swap instead of buying batteries.
- The model is called battery-as-a-service.
The founders
Who put in money
- Ecosystem Integrity Fund Investor
In numbers
₹4,170 CrPost-money valuation · 2026
What happens next
- More tranches expected.
Earlier rounds
- August 2026: ₹185.5 Cr Series C led by Rising Tide Ventures.
Terms in this story
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a stock-market listing or a sale. Each step is larger than the last and asks for more proof.
- Series B/C: Series B, C, D and later rounds are growth rounds: large cheques that help a startup with a proven model expand faster, enter new markets or move toward profit and a listing.
- Pre-money / post-money: Pre-money valuation is what a company is worth before new money comes in. Post-money valuation is that figure plus the new investment.
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