Indian EV firm Battery Smart secures $25M in Tiger Global-led funding round
Battery Smart has secured $25 million in a funding round led by Tiger Global. With that, Battery Smart becomes the third Indian electric vehicle startup that has raised funds from Tiger Global. Battery Smart, an electric vehicle (EV) battery switching firm, announced a $25 million fundraising round headed by Tiger Global, with participation from Blume Ventures and Orios Ventures. This is the third Indian EV firm to receive funding from Tiger Global, following EV manufacturers Ather Energy and Ola Electric. Battery Smart last secured $7 million from Blume Ventures, Orios Ventures, and others in November 2021. The extra funds will be used to grow into new markets, develop its technology, and build its personnel in order to continue scaling operations, according to the business. The money comes as a result of the government's strong interest in the battery swapping scheme. Niti Aayog, the government research tank, presented a draft battery swapping policy last month wit...