VC Fund Investments
EV battery swap tech startup RACEnergy raises $3-M led by growX Ventures
Hyderabad-based battery swap startup RACEnergy has raised USD 3 million in a pre-Series A debt and equity round led by growX Ventures with participation from Micelio Mobility, Huddle, and angel investors. RACEnergy will use the fresh capital to enhance technology and build new facilities to support its operations. Founded in 2019 by BITS Pilani alumni Arun Sreyas and Gautham Maheswaran, RACEnergy offers battery-swapping technology for electric two and three-wheelers. It is expanding its network across the country through partnerships, including with HPCL and Hala Mobility.
From the Venture Intelligence PE-VC Deal Database: Between Jan 2020 and September 2022, RACEnergy has raised USD 2.11 million from Micelio Fund, growX Ventures, Huddle, Prophetic Ventures, AngelList and BITSian Angels.
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