Mumbai-based mobility-as-a-service (MaaS) and battery-swapping startup VoltUp has secured $8 million (₹67 crore) in a seed funding round that includes equity and debt.
The round was led by EM Impact Capital, pushing the company’s total funding to $18 million following a pre-seed round of $10 million.
Other notable participants include a prominent family office, HDFC Bank, cKers, Grip Invest, and GetVantage.
The funds will be used to enhance VoltUp’s MaaS offerings and seamlessly integrate its battery-swapping solutions with various electric two- and three-wheeler platforms.
Founded in 2019 by Siddharth Kabra, VoltUp provides innovative battery-swapping solutions tailored for electric two and three-wheelers.
Operating across 14 cities in India, the company leverages artificial intelligence (AI) and data analytics to optimize swapping station placements, monitor battery performance in real time, and anticipate user demand.
This technology-first approach offers a safer, more efficient, and faster alternative to conventional EV charging methods.
Also Read:
Medusa Beverages Secures INR 56 Crore in Series A Funding
VoltUp’s focus on safety, health, and efficiency (SHE) has made it a standout player in sustainable urban mobility. The company’s MaaS platform supports gig workers, delivery agents, and small businesses by offering reliable and easily accessible electric vehicle solutions powered by its proprietary battery-swapping technology.
With a fourfold revenue growth in the past year, VoltUp plans to expand targeting the deployment of 1,000 additional battery-swapping stations in 20 cities.
