Battery Smart raises $65 mn for battery-swapping network

New Delhi: Electric vehicle (EV) startup Battery Smart on Tuesday said it has secured $65 million in a Series B funding round led by LeapFrog Investments. The startup said it will use the capital to scale its dense battery-swapping network across the country and drive more electric mobility adoption.

"The fresh capital will enable us to accelerate our expansion, enhance our technology, and strengthen our market presence,” said Pulkit Khurana, Co-Founder and CEO, Battery Smart.

The equity round saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment.