Battery Smart adds about ₹98 crore to its Series C
Ecosystem Integrity Fund has subscribed to a fresh allotment of preference shares, following the battery-swapping operator’s August financing.
A further tranche from an existing backer
Entrackr reported the allotment on October 17, citing regulatory filings. The investment follows an August Series C of ₹185.5 crore led by Rising Tide Ventures, in which Ecosystem Integrity Fund and Blume Ventures also participated. The latest amount represents additional capital rather than a restatement of that earlier close.
The financing arrives as Battery Smart’s operating business grows. Entrackr reports revenue of ₹358 crore for FY26, up 43.8%, with the annual loss narrowing to ₹23.55 crore. For a network serving working electric vehicles, that combination puts the next phase of expansion alongside an improving operating result.
Use of funds
Expand the battery-swapping business
Capital expenditure
Working capital and general corporate purposes