Battery Smart, India’s leading battery-swapping network for electric two- and three-wheelers, has announced the appointment of Amit Bhardwaj as its new Chief Financial Officer (CFO).
Bhardwaj, who previously served as the Vice President & Group Finance Controller at Shiprocket, brings over two decades of experience in financial strategy, risk management, and business growth. His appointment is a strategic move to support the company’s continued expansion in the rapidly growing electric mobility sector.
Founded in 2019 by Pulkit Khurana and Siddharth Sikka, Battery Smart offers advanced lithium-ion batteries for electric vehicles, including two- and three-wheelers, through its innovative Battery-as-a-Service (BaaS) model. The BaaS model eliminates the need for high upfront costs, making electric mobility more affordable and accessible to users.
Since launching its first battery-swapping station in June 2020, the company has rapidly established itself as India’s largest battery-swapping platform for electric two- and three-wheelers. The company recently announced that it has successfully completed 50 million battery swaps, further cementing its position as a leader in the electric mobility space.
In June 2024, Battery Smart raised $65 million in a Series B funding round led by LeapFrog Investments and other investors. The company’s revenue from operations grew by 195% in FY24, reaching Rs 164.6 crore, compared to Rs 55.9 crore in the previous year.
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Additionally, Battery Smart recently announced a strategic partnership with quick-commerce platform Zepto. The two companies plan to deploy 1,000 electric vehicles by FY25. Zepto’s delivery partners will leverage Battery Smart’s network of battery-swapping stations to quickly swap batteries and enable more efficient deliveries.
With Bhardwaj’s appointment, Battery Smart aims to strengthen its financial strategy and continue scaling its operations, enhancing its contribution to the growing electric vehicle ecosystem in India.
