Series C · Mobility
Battery Smart raises ₹185.5 crore Series C
Rising Tide leads the financing, with Ecosystem Integrity Fund and Blume Ventures participating.
Battery Smart raised ₹185.5 crore in a Series C round reported on August 21, 2026, led by Rising Tide. Ecosystem Integrity Fund and Blume Ventures also participated. The financing comprised two tranches of preference shares.
The battery-swapping operator reported ₹358 crore in revenue for FY26, up 43.8% from the previous year, while its loss narrowed to ₹23.55 crore. Its network serves electric two- and three-wheeler drivers, including gig workers whose vehicles need to remain on the road throughout the day.
Use of funds
Business expansion
Capital expenditure
Working capital and general corporate purposes