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Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr ยท 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zeptoโ€™s EV delivery partners to use Battery Smartโ€™s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

EntrackrEntrackr ยท 9m ago
Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures
Medial

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact. Shashank Pathak 05 May 2025 11:12 IST Follow Us New Update Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact, Supermorpheus, and returning investor Cocoon Capital have also participated. The total funding raised by the Bengaluru-based startup now stands at $4.02 million. The proceeds will be used to scale up manufacturing and expand its team. Founded in 2019 by Animesh Kumar Jha, Volt14 focuses on developing silicon-based anode materials for lithium-ion batteries. It has also developed an in-house cylindrical battery cell format demonstrating energy density enabled by its silicon anode. Volt14 claims that its technology increases silicon content in anodes while maintaining performance levels and is currently being evaluated by multiple battery cell manufacturers. According to market research, the lithium-ion battery sector is projected to exceed $300 billion by 2034, driven by electric vehicle adoption and energy storage expansion. Blume Ventures, the lead investor in this round, is also one of the early backers of Battery Smart, which is the most funded startup in the space.

Stable Money to raise $20 Mn led by Fundamentum with 2.3X valuation jump

EntrackrEntrackr ยท 8m ago
Stable Money to raise $20 Mn led by Fundamentum with 2.3X valuation jump
Medial

Wealthtech startup Stable Money is raising Rs 173 crore (around $20 million) in a funding round led by The Fundamentum Partnership Fund, with participation from existing investors Matrix Partners, RTP Global, and Lightspeed India. The board at Stable Money has issued 10 equity and 51,914 Series B preference shares at an issue price of Rs 33,345 each to raise Rs 173 crore or $20 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. The Fundamentum Partnership Fund will lead the round with an investment of Rs 86.5 crore ($10 million). Existing investors will also join in, including RTP Global with Rs 33.78 crore, Matrix Partners with Rs 45.42 crore, Lightspeed India with Rs 4.32 crore, and Naman Finance with Rs 3 crore. Stable Money plans to use the funds for capital expenditure, marketing, and general corporate purposes. Entrackr estimates that the companyโ€™s valuation will reach approximately $130 million following the allotment. This is a 2.3X valuation surge when compared to its last $15 million Series A round. After the allotment of this round, The Fundamentum Partnership Fund will hold a 7.94% stake in Stable Money. Matrix will hold 18.97%, RTP Global 13.45%, Lightspeed India 15.20%, and Naman Finance 0.28%. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money operates in the wealthtech space, focusing on simplifying fixed-income investing for retail customers. It provides a digital platform where users can compare, invest in, and manage fixed-income products, particularly bank fixed deposits (FDs), offered by multiple banks. The company has not yet filed its financial results for FY25. For the fiscal year ended March 2024, it remained in the pre-revenue stage, reporting an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

Climate-tech startup Varaha raises $20 Mn in Series B led by WestBridge Capital

EntrackrEntrackr ยท 5d ago
Climate-tech startup Varaha raises $20 Mn in Series B led by WestBridge Capital
Medial

Climate-tech startup Varaha has raised $20 million in the first tranche of its Series B round led by WestBridge Capital. Existing investors RTP Global and Omnivore also participated. The Series B round is sized at around $45 million. The funding comes after a gap of two years since Varaha raised its $8.7 million Series A round led by RTP Global in February 2024. The proceeds will be used to expand Varahaโ€™s global footprint, strengthen its scientific and measurement, reporting and verification (MRV) systems, and scale a new industrial partnership model focused on biochar-based carbon removal. Co-founded in 2022 by Madhur Jain, Ankita Garg and Vishal Kuchanur, Varaha develops carbon removal projects across biochar, afforestation and reforestation, regenerative agriculture, and enhanced rock weathering. The company operates projects across India and other parts of South Asia and Africa, working closely with local operators and smallholder farmers. Alongside the funding, Varaha has launched the Varaha Industrial Partners Program (VIPP). Through this program, industrial operators with biomass and gasification capabilities can partner with Varaha to generate verified carbon removal credits using its MRV platform and carbon credit origination infrastructure. Varaha has signed long-term carbon offtake agreements with global companies including Google and Microsoft, and has delivered a large volume of durable carbon removal credits to date. The Gurugram-based company currently runs over 20 carbon projects across India, Nepal, Bangladesh, Bhutan, and Ivory Coast.

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