Rising Tide backs Battery Smart's Series C to grow India's EV swapping network
What's the deal? Rising Tide VenturesDealroom has a profile for this one. Try Dealroom → has made a follow-on investment in the Series C round of Upgrid Solutions, which operates as Battery Smart, one of India's largest battery-swapping networks. The investment spanned the company's Series C1 and C2 rounds. CMS INDUSLAWDealroom has a profile for this one. Try Dealroom → advised Rising Tide, with a team led by partner Shweta Gupta and associate Abhinav A.
What does it do? Battery Smart lets electric-vehicle users swap depleted batteries for fully charged ones at a network of stations across India. The model targets a common EV pain point: charging time.
What's the endgame? The fresh capital will fund expansion, strengthen technology and network infrastructure, and reinforce the company's position in India's EV battery-swapping market.
The signal: A follow-on cheque from an existing backer signals continued conviction in swapping as a fixture of India's growing EV ecosystem.
Read more: barandbench.com
Image credit: Generated with Gemini
