BatteryPool Raises Rs 8 Cr Funding

Mumbai, Nov 27 (PTI) EV battery monetisation platform BatteryPool on Thursday said it has raised Rs 8 crore in a funding round led by Inflection Point Ventures.

The fund raised through pre-series A round will be used for scaling up its battery fleet 10-fold over the next 18 months besides strengthening nationwide footprint.

The company has introduced the country's first model that allows EV riders to pay in small daily, weekly, or monthly amounts, making EV usage far more accessible, it said in a statement.


The round also saw participation from Indian Angel Network (IAN), Chennai Angels, Keiretsu Forum and notable HNIs, the company said.

Founded in 2020 by Stanford-trained electrical engineer Ashwin Shankar, BatteryPool manages over 2,000 batteries across six cities.

The company said its core strength lies in its proprietary hardware and IoT-connected battery management system, which powers one of India's most flexible sachet-style, pay-as-you-go energy platforms for EVs.

"The sachet model transformed how Indians consumed everything from mobile data to daily essentials, EVs are next. By bringing sachet-style, pay-as-you-go energy to batteries, we've made electric mobility affordable and accessible to the masses," said Shankar.