BatteryPool Secures ₹8 Cr Pre-Series A Funding

BatteryPool raised ₹8 crore in a pre-series A round led by Inflection Point Ventures, with Indian Angel Network, Chennai Angels, Keiretsu Forum, and HNIs participating. The startup currently manages over 2,000 batteries across six cities and plans to grow its fleet tenfold in 18 months.

Riders swap charged batteries at stations, paying small daily, weekly, or monthly fees much like buying mobile data packs. This model cuts downtime for delivery workers and fleet operators, who lose income waiting for charges on India's 2 million electric two- and three-wheelers, with another 2 million expected in FY25.

Investor Backs Flexible EV Model

Vikram Ramasubramanian, Inflection Point Ventures, says, “As an emerging economy that's adopting EVs, India holds immense potential that can be unlocked through innovative, flexible solutions. Where commercial operation of EVs is concerned, fast and efficient charging becomes vital because any delay directly leads to a loss of time and hence revenues. BatteryPool addresses this by providing seamless, pay-as-you-go access to charged batteries, helping riders and businesses be constantly mobile. In addition, the company monetises batteries through their complete lifecycle, creating multiple revenue streams out of one single asset.”

IPV has invested over INR 800 Cr in 250+ startups, spotting BatteryPool's potential in a market where fleets need quick swaps to stay operational.

BatteryPool, founded in 2020 by Stanford-trained electrical engineer Ashwin Shankar—with experience at Schlumberger and NASA—uses proprietary hardware and IoT for battery management. Shankar draws parallels to everyday sachet purchases that boosted mass adoption.

Ashwin Shankar, Founder, BatteryPool, adds: “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. As we move forward, we’re focused on strengthening the ecosystem, building battery access, improving the user experience, and supporting the everyday rider as the country transitions to electric mobility.”

For a delivery rider in Mumbai, this means swapping a drained battery in minutes and paying ₹50 daily, keeping earnings steady without big upfront costs.