Battery Smart Bags $65 Mn From LeadFrog, Others
Battery Smart mentioned that by 2030, India is expected to have 200 million two-wheelers and 12 million three-wheelers. This funding round was advised by Elluminate Capital
Battery Smart raised USD 65 million in funding led by LeapFrog Investments. Other investors in this funding round include MUFG Bank, Panasonic, Ecosystem Integrity Fund (EIF), Blume Ventures and British International Investment (BII).
The company plans to use this funding to expand its business and improve its technology. Since launching its first swap station four years ago, Battery Smart has grown to 1,000 stations across 30 cities and completed over 35 million swaps. The company has also expanded its charging stations to Tier I, II and III cities.
LeapFrog Investments believes that this investment aligns with its Climate Investment Strategy, which focuses on supporting innovative companies in scaling new low-carbon technologies in Asia and Africa.
Battery Smart mentioned that by 2030, India is expected to have 200 million two-wheelers and 12 million three-wheelers. This funding round was advised by Elluminate Capital.
