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Indian EV battery-swapping network eyes $50m in funding

Battery Smart has started talks with potential investors: source

India's Battery Smart says it offers battery swapping for EVs in under two minutes. (Source photo from Battery Smart website)

NEW DELHI -- India's Battery Smart, a battery-swapping network for electric vehicles, is looking to raise $50 million in a Series B funding round as it aims to expand into new markets, DealStreetAsia has learned.

The New Delhi-based startup has initiated talks with a number of new and existing investors, including Blume Ventures and Orios Venture Partners, an industry source said on the condition of anonymity.

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