BatteryPool raises Rs 8 crore led by IPV

Battery tech startup BatteryPool has raised Rs 8 crore (around $960K) in its pre-Series A round led by Inflection Point Ventures, with participation from Indian Angel Network, Chennai Angels, Keiretsu Forum, and several individual investors.

The proceeds will be used to scale its battery fleet 10x over the next 18 months and expand its presence across India. 

Founded in 2020 by Ashwin Shankar, BatteryPool operates a pay-as-you-go battery access model for electric vehicles. The company uses proprietary hardware and an IoT-connected battery management system to offer sachet-style daily, weekly, or monthly payments for EV batteries. The platform currently manages more than 2,000 batteries across six cities.

The platform also enables monetization of each battery through its full lifecycle.

As per market research, India currently has more than 2 million electric two- and three-wheelers on the road. Another 2 million EVs are expected to be sold in FY25. This growth is increasing demand for simple and practical battery-charging and swapping solutions.