BatteryPool, a battery tech startup enabling pay-as-you-go EV battery access, has raised ₹8 crore in its pre-Series A funding round led by Inflection Point Ventures (IPV).
The round also saw participation from Indian Angel Network (IAN), Chennai Angels, Keiretsu Forum and notable HNIs.
The fresh funds raised will be used to scale its battery fleet 10x over the next 18 months, strengthening its nationwide footprint.
Founded in 2020 by Ashwin Shankar, BatteryPool operates a pay-as-you-go battery access model for electric vehicles.
BatteryPool uses its proprietary hardware and IoT-connected battery management system, which powers one of India’s most flexible sachet-style, pay-as-you-go energy platforms for EVs. BatteryPool allows riders to pay in small daily/weekly/or monthly amounts.
BatteryPool is currently managing over 2000+ batteries across 6 cities.
Ashwin Shankar, Founder, BatteryPool, said, “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.”
Vikram Ramasubramanian, Inflection Point Ventures, said, “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 monetizes batteries through their complete lifecycle, creating multiple revenue streams out of one single asset.”
