🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

Back

Havish Gupta

Figuring Out • 11m

This startup's revenue grew by over 20 times in the last 2 years! But how? So this is Battery Smart, an EV battery startup founded by IIT-Kanpur graduates Pulkit Khurana and Siddharth Sikka. The idea is pretty simple! It takes a lot of time to charge. So why not just swap the EV's battery? Well, that's what these guys did and started their first battery swapping station in June 2020 (right after the start of QCom). How it works? 1) Get their membership. 2) Locate their swapping station. 3) Just enter and swap your battery in under 2 mins. This can save you hours! They received seed funding from Orios Venture Partners in Feb 2021, and from then, they never stopped growing! - By Sep 2021, they opened over 100 swapping centers. - By Mar 2022, they were available in 10+ cities. - By Dec 2023, they had swapped 25M+ batteries. And in June 2024, they raised a massive $65M in Series B round funding at a $340 million valuation. Their FY24 revenue is 164 Cr Rs, growing at 352% CAGR, which is incredible. btw, they are not profitable yet. Their fast growth is the reason why they raised their recent round at a 17 times revenue multiple. Agree?

11 Replies
13
32
Replies (11)

More like this

Recommendations from Medial

Sresh

....... • 5m

🚗 65% of Indian EV owners face charging anxiety VoltUp raised ₹20 Cr to build a battery swapping network What's broken? ❌ Long charging times ❌ Limited charging stations ❌ Range anxiety in tier-2 cities What VoltUp is building: 🔋 Battery swappin

See More
Reply
6
Image Description
Image Description

Havish Gupta

Figuring Out • 10m

This Taiwanese EV scooter brand is revolutionizing transportation! Using an EV vehicle is very beneficial for the world, but it comes with multiple issues as a customer, the number one being battery life! Thus, in 2011, Horace Luke and Matt, two fr

See More
14 Replies
5
15
Image Description
Image Description

Havish Gupta

Figuring Out • 1y

Brilliant Ideas That Didn't Work Out Why not swap your electric car's battery instead of charging it? Well, That's what a 2007 American startup called "Better Place" did! In electric cars, batteries are fixed and can't be removed. So, Better Plac

See More
5 Replies
17

EVINDIA

Stay updated with th... • 3m

Odysse Launches SNAP at ₹49,999 – India’s Most Affordable Battery-Swapping EV Scooter Odysse Electric, in partnership with Indofast Energy (a JV of Indian Oil & SUN Mobility), has launched SNAP, a battery-swapping enabled electric scooter priced at

See More
Reply
4

EVINDIA

Stay updated with th... • 2m

From India to Africa: SUN Mobility Scales Global Battery Swapping SUN Mobility is set to build Africa’s largest EV battery-swapping network, backed by a $135 million investment led by Vitol. The rollout begins in Kenya and will expand across the co

See More
Reply
2

BHARAT EV

Hey I am on Medial • 1y

Retrofitting existing diesel buses into electric vehicles (EVs) with a battery swapping system is a game-changer in the quest for sustainable urban transport. This innovative approach breathes new life into aging fleets, transforming them from pollut

See More
Reply
6

Mahendra Lochhab

Content creator • 7m

The India pottery ceramics market generated a revenue of USD 364.8 million in 2021 and is expected to reach USD 564.6 million by 2030.

Reply
3

EVINDIA

Stay updated with th... • 4m

India’s 1st Solar EV Charging Station with Second-Life Battery Debuts in Bengaluru BESCOM, in partnership with GIZ India and DULT, has launched India’s first solar-powered EV charging station near Bengaluru Airport, featuring a 100 kWh second-life

See More
Reply
6

mg

mysterious guy • 5m

India is constructing a new research station in Antarctica to replace Maitri station with Maitri II by 2029.

Reply
7

Mohammed Zaid

building hatchup • 1y

Quick commerce Zepto claimed the number one spot on LinkedIn's 2024 Top Startups list, a data-backed ranking of the 20 emerging companies growing fast, gaining attention and recruiting top talent in India. Whether it's enabling battery-swapping for e

See More
Reply
5

Download the medial app to read full posts, comements and news.