Flowatt Battery Science, a Bengaluru-based deep-tech battery startup, has raised ₹2.2 crore in its pre-seed funding round led by accelerator PedalStart.
The funds raised will be used for technology optimization and completing the proof-of-concept (POC) for its electric battery design, which is built on three core principles: lowest cost, longest life, and assured buyback.
The funds will also be used to build strategic partnerships with insurers, EV financiers, original equipment manufacturers, and other ecosystem participants, while also enabling talent acquisition across technology, business development, and operations functions.
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 focuses on powering commercial mobility fleets for e-commerce and quick-commerce segments.
It uses a Battery-as-a-Service (BaaS) pay-per-use model for electric two-wheelers and three-wheelers, which aims to lower battery purchase costs for fleet operators. The service uses IoT-enabled tracking and data analytics to optimise battery performance and cost-efficiency.
Flowatt offers real-time health monitoring and lifecycle underwriting through its in-house technology, which is designed to promote a circular energy economy by extending battery life and enabling second-life applications.
The company has scaled its BaaS model to nearly 1,500 batteries across multiple Indian cities. Following the funding, Flowatt plans to deploy over 20,000 batteries under its BaaS offering, achieve over ₹2.5 million monthly recurring revenue (MRR), and expand to more than 15 cities across tier 1 and tier 2 India by the end of FY2027.
Siddhartha Srivastava, Bikesh Jha and Vikash Singh, Co-Founders of Flowatt Battery Science, said, “We are thrilled to announce our pre-seed round led by PedalStart, a significant milestone set to propel Flowatt’s journey ahead. In the near term, the funds raised shall be instrumental in enabling us to optimise and scale our new battery-as-a-service solution that offers a three-fold edge- minimal cost, longest battery life and assured buyback guarantee. As the electric mobility scene in India soars, managing EV batteries efficiently throughout their lifecycle has emerged as an imperative. At Flowatt, we’re doing this by combining cutting-edge battery science with data science and aiming to bridge the gaps between advanced energy storage technologies and long-term value creation for the ecosystem. Our unique BaaS model and tech ensure that India’s EV owners and fleet operators can make efficient data-driven decisions, while minimising costs and negative environmental impact. In the long run, we aspire to make EV adoption more affordable, accessible, profitable and sustainable.”
Manas Pal and Aditya Darolia, Co-Founders, PedalStart, said, “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 with commercial EV adoption. Plus, their focus on battery assurance, lifecycle management and second-life applications makes them one of the most exciting deep-tech players today. We were impressed by the founding team’s domain experience and expertise, dedication to execution and vision, and are extremely happy to be a part of their growth story as Flowatt’s early believer, investor and backer.”
