Battery Smart reported a 52% year-on-year rise in revenue for FY25, reaching 249 crore rupee (US$28.05 million), with total revenue including other income at 279 crore rupee (US$31.43 million).

The company, based in India, operates a battery swapping network for two- and three-wheeler fleets.

Battery Smart posted an EBITDA loss of 5′ crore rupee (US$6.30 million) for the year, citing higher operating expenses due to expansion and increased investments in technology and workforce.

The company said it has recently achieved EBITDA break-even.

Battery Smart runs over 1,600 swapping stations across 50 cities and has facilitated around 90 million battery swaps for around 90,000 drivers.

It also raised US$21 million in an ongoing series B funding round led by Rising Tide Energy.

🔗 Source: YourStory