BatteryPool raises ₹8 crore in Pre-Series A round led by Inflection Point Ventures
BatteryPool, a Pune-based EV startup offering pay-as-you-go access to EV batteries, has raised ₹8 crore in its Pre-Series A funding round led by Inflection Point Ventures (IPV). The round also included participation from Indian Angel Network (IAN), Chennai Angels, Keiretsu Forum, and High Net-worth Individuals (HNIs). The funding will be used to expand BatteryPool’s fleet tenfold over the next 18 months and support its national expansion. The company currently manages more than 2,000 batteries across six cities.
BatteryPool’s platform uses proprietary hardware and an IoT-enabled battery management system to facilitate flexible battery access for EV users. Its model allows users to pay daily, weekly, or monthly for battery usage.
Commenting on the investment, Vikram Ramasubramanian from 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.”
BatteryPool was founded in 2020 by Ashwin Shankar, an electrical engineer with experience at Schlumberger and NASA. He was also part of a technology policy think tank. Shankar stated, “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.”
India has more than 2 million electric two- and three-wheelers in use, with another 2 million expected to be sold in FY25. Increased EV deployment is driving demand for practical battery access and charging mechanisms.
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