EV cell swapping operator Battery Smart raises $29-M from Rising Tide Energy, others

Battery Smart , a Gurugram-based battery swapping operator, has raised USD 29 million in its Series B funding round. The round was led by New York-based private equity firm Rising Tide Energy, with participation from responsAbility, Ecosystem Integrity Fund, and LeapFrog Investments. The company plans to use the funds to expand to new cities and enhance presence in existing markets.Founded by Pulkit Khurana and Siddharth Sikka, Battery Smart operates over 1,518 lithium-ion battery swapping stations across 321 locations in Delhi, serving electric two- and three-wheelers. The company claims to have facilitated over 74.9 million battery swaps and onboarded more than 68,000 electric vehicle drivers.