Flowatt raises pre-seed round led by PedalStart

Bengaluru-based battery deeptech startup Flowatt Battery Science has raised Rs 2.2 crore in a pre-seed funding round led by PedalStart.

The fresh capital will be directed towards technology optimization and completing the proof of concept (POC) of its electric battery design, building strategic alliances with insurers, EV financiers, OEMs, and other key ecosystem stakeholders, and onboarding talent across tech, business development, and operations, Flowatt said in a press release.

Co-founded in 2023 by Siddhartha Srivastava, Bikesh Jha, and Vikash Singh, Flowatt leverages IoT-enabled tracking and data analytics along with predictive maintenance and asset management to optimize battery performance and cost efficiency for last-mile delivery fleets. It aims to transform the electric vehicle (EV)-based logistics fleet management landscape in India.

Flowatt says that it lowers the upfront EV battery purchase costs for fleet operators with a pay-per-use Battery-as-a-Service (BaaS) model, while simultaneously enabling them to reduce downtime and improve margins with a predictable, fuel-like subscription advantage. The startup is currently focused on powering commercial mobility fleets for the e-commerce and quick-commerce segments.

Flowatt claims that it has gained early traction, scaling its flagship BaaS model to nearly 1,500 batteries across multiple Indian cities to date. The startup aims to deploy over 20,000 high-performance batteries under its BaaS offering, achieve over Rs 2.5 crore in monthly recurring revenue (MRR), and expand to over 15 cities across Tier 1 and Tier 2 India by the end of FY 2026–27.

“As India accelerates towards large-scale electrification, Flowatt is solving one of the most pressing challenges in the nation’s EV ecosystem today — the economics of battery adoption. By shifting batteries from being a capital-heavy purchase to a flexible service offering, they are removing the biggest pain points in commercial EV adoption,” said Manas Pal and Aditya Darolia, co-founders, PedalStart.