BatteryPool, a technology start-up that invented a battery technology in order to facilitate the flexibility of battery access in electric vehicles (EVs), has been able to complete its pre-Series A round with a considerable amount of ₹8 crore raised successfully. Inflection Point Ventures (IPV) led this major milestone of investments, and it indicated that investors had great confidence in the innovative strategy of the company, addressing the energy requirements of the fast-developing electric mobility sector in India. The capital injection will help BatteryPool grow its expansion strategies fourfold and substantiate its role as a major player in helping the country to turn into a sustainable transportation system.

Enhancement and capital infusion

The successful completion of the ₹8 crore pre-Series A round was a collaborative effort, and it shows that the business model of BatteryPool had a wide range of support. Even though Indfection Point Ventures (IPV) was the lead investor, the round also involved the presence of other well-known players in the Indian startup ecosystem. 

Among the investors were the Indian Angel Network (IAN), the Chennai Angels, the Keiretsu Forum, and some of the prominent high-net-worth individuals (HNIs). This is a diversified team of investors that not only offers BatteryPool the financial resources but also a broad spectrum of strategic capabilities to sail through its aggressive growth path.

The company is also well-positioned at the intersection of technology and ease of access, with a pay-as-you-go business model deconstructing the upfront affordability barriers that can commonly be linked to EV ownership and operating costs. Through the targeted product of a sachet-like energy platform, BatteryPool is targeting the operational aspect of riders and commercial businesses, allowing them to be constantly mobile with easy access to charged batteries. This capital will be essential in improving the current strength of the startup and equipping it with a significant expansion phase nationwide.

The investment validates the perceived value of the BatteryPool’s unique offering, which would fill a basic market need of a reliable and affordable EV energy solution. The belief statement made by IPV and the co-investors emphasises the fact that the pay-as-you-go battery access model has the potential to transform the way commercial electric vehicles are operated in India. The effective completion of the raising of this pre-Series A capital places BatteryPool in a strong position to do further fundraising and remain competitive in the market.

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.”

Quotation Source: MarcaMoney  

Innovative sachet model and operational footprint

Ashwin Shankar founded BatteryPool in 2020. BatteryPool is based on the fact that to enable electric mobility in the masses, the payment-per-use model of accessing the batteries of the electric vehicles needs to be affordable and accessible to the masses. By using its own hardware and a high-tech battery management platform connected with IoT, the company enables one of the most versatile energy platforms in India. This technology provides a sachet-style solution and gives the riders the flexibility to pay a small amount of money to gain access to energy per day, week, or a month, and will change the way consumers engage with EV energy consumption.

It is an innovative structure that resembles the sachet model that has historically revolutionized the consumption of necessary goods and services in India, not only of cellular data but also of daily necessities, and now with EV batteries. BatteryPool is currently operating over 2000+ batteries with a fleet totaling close to 2000+ and has been offering its services in six of the key cities of the country. The presence of an operational footprint and the effective management of this fleet confirms the scalability and efficiency of the proprietary technology and business model of the company in various urban settings.

One of the priorities of the company is to enhance its presence in the entire country. This will not only finance the purchase of additional batteries but also the infrastructure development, technological modernization, and logistical construction needs to sustain the massive growth of its six cities of operation today. This will be a critical use of capital to satisfy the surging demand for dependable, adaptable, and efficient access to EV batteries amid accelerated uptake of electric mobility in the country.

The Founder, BatteryPool, Ashwin Shankar, 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.”

Quotation Source: MarcaMoney  

Conclusion

The ₹8 crore round of pre-Series A funding led by Inflection Point Ventures was a landmark validation that BatteryPool has an innovative and pay-as-you-go battery access service. BatteryPool will grow rapidly with the newly raised capital by 10x fleet expansion and a considerable strengthening of its national presence in the upcoming 18 months. It is not only a way of propelling BatteryPool into growth, but also a pointer to how the bigger market has been convinced by the so-called sachet model as the key to providing affordable and hassle-free electric mobility to the masses in India.