EV battery-as-a-service startup BatteryPool has raised ₹8 crore in its Pre-Series A funding round, led by Inflection Point Ventures (IPV), with participation from Indian Angel Network (IAN), Chennai Angels, Keiretsu Forum and several high-net-worth investors. The funding marks a strong vote of confidence in the company’s sachet-style, pay-as-you-go model for EV batteries — a first-of-its-kind approach in India’s growing electric mobility market.
BatteryPool currently manages 2,000+ batteries across six Indian cities, and the fresh capital will be deployed to scale its battery fleet 10x over the next 18 months, significantly expanding its nationwide reach.
Founded in 2020 by Stanford-trained engineer Ashwin Shankar, BatteryPool has built a proprietary hardware platform coupled with an IoT-enabled battery management system. This technology underpins one of India’s most flexible battery-access models, allowing EV users to pay in small daily, weekly or monthly instalments instead of making high upfront investments. The model has seen strong traction among commercial two- and three-wheeler users.
Vikram Ramasubramanian of Inflection Point Ventures said India’s EV adoption curve demands faster, more flexible charging solutions. “BatteryPool provides seamless, pay-as-you-go access to charged batteries, helping riders and businesses stay constantly mobile. The company’s ability to monetise batteries through their entire lifecycle creates multiple revenue streams from a single asset,” he noted.
Founder Ashwin Shankar said the sachet model is redefining mobility access. “Just as sachet pricing changed how Indians consumed data and essentials, EVs are next. By enabling small, commitment-free payments for battery use, we’re making electric mobility affordable for the masses,” he said, adding that the focus ahead is on deepening the ecosystem, improving user experience and accelerating India’s shift to electric transport.
India currently has over 2 million electric two- and three-wheelers on the road, with another 2 million expected in FY25 alone. This growing base is driving strong demand for fast, practical and dependable battery-access solutions — a gap BatteryPool aims to fill at scale.
