Battery Smart raises $19.5 M in Series C led by Rising Tide Energy

Gurugram-based Battery Smart has raised USD 19.5 million in a Series C funding round led by existing investor Rising Tide Energy, with participation from Ecosystem Integrity Fund and Blume Ventures.Founded in 2020, the company operates a battery-swapping network for electric two- and three-wheelers. Its battery-as-a-service (BaaS) model is designed to allow users to swap batteries to avoid upfront ownership costs. The company plans to use the new funds for business expansion, capital expenditure, and working capital needs.The transaction follows a pre-Series C round in March 2026 and a USD 15 million debt funding infusion in April. The firm’s revenue grew to INR 358 crore in FY26, while its losses decreased to INR 23.55 crore. The company has raised over USD 211 million in total funding to date.