About Battery Smart
Battery Smart is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2019 by Pulkit Khurana and Siddharth Sikka. It operates in the Transportation, Automotive & Logistics and Energy & Utilities sectors. Battery Smart has raised $187.76 million across 16 funding rounds from investors including MUFG Bank, BlackSoil and Panasonic. The company has 482 employees. Battery Smart was last valued at $451.09 million in March 2025. Its chief executive, as recorded, is Pulkit Khurana. Its website batterysmart.in draws about 39 thousand monthly visits. Its focus areas include Energy Tech, Energy Storage Tech, Charging and Station Network. Its competitors include SUN Mobility, Esmito and Batterypool; 3 of its 3 listed competitors have raised funding.
Company details
Provider of EV battery-swapping network. Its offerings include a network of modular lithium-ion battery swapping stations across India, catering to electric two and threewheelers with pay-per-swap access to fully charged batteries. Its features include interoperable battery packs, a partner-led assetlight station model, mobile app for swap location and payment, and quick swap technology that boosts rider uptime and income. It also offers fleet support, station partnerships for small-business operators, insurance coverage for drivers and station staff, and scalable station deployment. It uses proprietary battery-as-a-service tech stack, real-time data analytics for station performance, IoT-enabled battery monitoring, and financing structures.
- Headquarters Gurugram, India
- Employees 482
- Founders Pulkit Khurana, Siddharth Sikka
- Stage Minicorn
- SectorsTransportation, Automotive & LogisticsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website batterysmart.in
- Social LinkedIn X Facebook
- Annual Revenue$22.56 M (USD)193as on Mar 31, 2024
- Net Profit-$17 M (USD)-129as on Mar 31, 2024
- EBITDA-$1.3 M (USD)60as on Mar 31, 2024
- Total Equity Funding$187.76M (USD)
in 16 rounds
- InvestorsMUFG Bank
& 43 more
- Employee Count482
Associated legal entities of Battery Smart
Battery Smart is associated with 2 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Upgrid Electrilease Private Limited CIN U71290DL2021PTC390888 | Active | 06 Dec 2021 | New Delhi, Delhi | ₹235 Cr | 2 | View details | |
| Upgrid Solutions Private Limited CIN U31904DL2019PTC357706 | Active | 19 Nov 2019 | New Delhi, Delhi | ₹279 Cr | 270 | 3 | View details |
Funding Insights of Battery Smart
Battery Smart has successfully raised a total of $187.76M across 16 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $187.76M
- Total Rounds 16
- First Round $276,592
(Feb 2020)
- Investors Count 43
Latest 10 of 16 funding rounds of Battery Smart with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2026 | $10M | Series C | – | – | |
| Aug 2026 | $19.5M | Series C | – | – | |
| Jul 2026 | $13M | Debt – Conventional | – | – | |
| Jun 2026 | $10.1M | Series B | – | Rising Tide Fund | |
| Apr 2026 | $15M | Debt – Conventional | – | – | Mirova |
| Mar 2026 | $7.4M | Series B | – | – | |
| Jun 2025 | $21M | Series B | – | Rising Tide Energy | |
| Mar 2025 | $29M | Series B | $451.09M | LeapFrog Investments, MUFG | |
| Jan 2025 | Debt – Venture | – | – | ||
| May 2024 | $65M | Series B | $362.55M | LeapFrog Investments |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2025 | $451.09M | •••••••• |
| May 2024 | $362.55M | •••••••• |
| Mar 2023 | $••••• | •••••••• |
| Jun 2022 | $••••• | •••••••• |
| Nov 2021 | $••••• | •••••••• |
| May 2021 | $••••• | •••••••• |
| Sep 2020 | $••••• | •••••••• |
| Feb 2020 | $••••• | •••••••• |
Full valuation and stage history of Battery Smart
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $451.09M (Mar 2025). 44 investors in total: 25 institutional and 19 angel.
Investors in Battery Smart
Battery Smart has secured backing from 44 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include MUFG Bank, BlackSoil and Panasonic.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Seed and early-stage investments are made across sectors in India. | blume.vc | Mumbai, India | ||
Venture capital is provided to early-stage startups by this fund. | eif.vc | San Francisco, United States | ||
Government agency focused on small and medium-sized businesses | 1948 | bii.co.uk | London, United Kingdom | |
Private equity fund focused on banking, finance, healthcare, and multiple sectors | 2007 | leapfroginvest.com | Johannesburg, South Africa | |
Venture capital funds are managed to support unlisted companies' growth. | sbinvestment.co.jp | Minato City, Japan | ||
Private debt and equity funds are managed for technology sectors. | trifectacapital.in | Gurugram, India | ||
Venture and private equity investments are managed with global diversification. | tigerglobal.com | New York, United States | ||
Venture debt is provided to growth-stage companies for business scaling. | strideventures.global | Delhi, India | ||
Venture capital firm focused on early-stage investments | 2013 | oriosvp.com | Mumbai, India | |
Venture capital firm investing in sustainable finance and climate tech industries. | 2021 | greenfrontiercapital.com | New York, United States |
Investor details for Battery Smart
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Board of directors of Battery Smart
The boards of the 2 registered companies of Battery Smart currently have 3 directors; the longest-serving is Pulkit Khurana, appointed in 2019. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pulkit Khurana DIN 07061065 | Director | 19 Nov 2019 | 6 yrs 11 mo | Upgrid Solutions Private Limited, Upgrid Electrilease Private Limited |
| Siddharth Sikka DIN 07202913 | Director | 19 Nov 2019 | 6 yrs 11 mo | Upgrid Solutions Private Limited, Upgrid Electrilease Private Limited |
| Nakul Nitin Zaveri DIN 02145129 | Nominee Director | 13 Jun 2024 | 2 yrs 4 mo | Upgrid Solutions Private Limited |
People of Battery Smart
3 people are tracked at Battery Smart (3 in leadership); the tracked headcount is 482.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership | |
Amit Bhardwaj | Chief Financial Officer | Leadership |
Complete people profiles for Battery Smart
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Battery Smart
Figures of Upgrid Solutions Private Limited, the primary company behind Battery Smart, for FY 2025. Revenue was ₹279 Cr (+49% year on year). Net loss was -₹273 Cr (-98% margin). EBITDA was -₹26.18 Cr (-9% margin). Revenue has grown at a compounded annual rate of +218% over three years.
- ₹279 CrRevenue · FY 2025 · +49% YoY
- -₹273 CrNet loss · -98% margin
- -₹26.18 CrEBITDA · -9% margin
- ₹72.8 LakhPaid-up capital
- 270Employees (provident fund records)
- +218%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Upgrid Solutions Private Limited are on its company page.
Detailed financial statements for Battery Smart
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Battery Smart
4 dated milestones of Battery Smart across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Battery Smart is founded.
- Funding First funding round of $277K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Debt – Conventional,.
Competitors of Battery Smart
Battery Smart has 3 listed competitors in our database, 3 of them funded. They include SUN Mobility, Esmito and Batterypool.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| sunmobility.com | 2017 | Bengaluru, India | $50M | 473 | Online platform for battery swapping solutions | |
| esmito.com | 2018 | Chennai, India | $1.39M | 31 | Saas & IoT enabled battery management products and solutions for electric vehicles | |
| batterypool.com | 2018 | Pune, India | $1.77M | 15 | Battery rental and swapping services for electric vehicles are offered. |
Detailed competitors of Battery Smart
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Battery Smart
The website of Battery Smart (batterysmart.in) receives about 39.4K visits a month.
- Monthly visits39.4K
▲ 293.8% vs previous month
Websites whose visitors overlap most with Battery Smart. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| blume.vc | 100% | #486,725 | View details | ||
manufacturingtodayindia.com | manufacturingtodayindia.com | 89% | #476,102 | – | |
| batterymantra.com | 71% | 680.7K | #1,084,199 | View details | |
| bii.co.uk | 62% | 75.6K | #473,077 | View details | |
| tatagreenbattery.com | 60% | 21.7K | #1,091,094 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 9 similar websites and full traffic analytics for Battery Smart
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 9 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Electric & Green Mobility
3 companies that operate in the same segment as Battery Smart (Electric & Green Mobility) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | |||
Shared electric two-wheelers are rented via an online platform. | 2017 | Bengaluru, Karnataka, India | USD 187.54 M | USD 2.14 M | 251 | |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | 2013 | Bengaluru, Karnataka, India | USD 502.02 M | USD 391.37 M | 1,917 |
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Related news about Battery Smart
Complete news archive for Battery Smart
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Frequently Asked Questions about Battery Smart
Battery Smart was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Battery Smart is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Pulkit Khurana is the CEO of Battery Smart, as recorded in our data. They have also founded this company.
Battery Smart is a funded company, having raised a total of $187.76M across 16 funding rounds to date. The company's 1st funding round was a Series B of $65M, raised on Feb 2020.
Battery Smart has 482 employees.
Annual revenue of Battery Smart is $22.56M as on Mar 31, 2024.
Provider of EV battery-swapping network. Its offerings include a network of modular lithium-ion battery swapping stations across India, catering to electric two and threewheelers with pay-per-swap access to fully charged batteries. Its features include interoperable battery packs, a partner-led assetlight station model, mobile app for swap location and payment, and quick swap technology that boosts rider uptime and income. It also offers fleet support, station partnerships for small-business operators, insurance coverage for drivers and station staff, and scalable station deployment. It uses proprietary battery-as-a-service tech stack, real-time data analytics for station performance, IoT-enabled battery monitoring, and financing structures.
Battery Smart's top competitors include SUN Mobility, Batterypool and Esmito.
Battery Smart has 44 investors. Key investors include MUFG Bank, BlackSoil, Panasonic, LeapFrog Investments, and Faad Capital.
The valuation of Battery Smart is $451.09M as of Mar 2025.
Battery Smart is associated with 2 legal entities: Upgrid Solutions Private Limited, Upgrid Electrilease Private Limited.
The legal entities of Battery Smart currently have 3 directors, including Nakul Nitin Zaveri, Pulkit Khurana, Siddharth Sikka.