Battery Smart has secured USD 15 million in debt funding from Mirova, an affiliate of Natixis Investment Managers focused on sustainable investing.
The funding will support the expansion of battery smart’s battery-as-a-service (BaaS) infrastructure and strengthen its partner-led battery swapping station network across key urban and semi-urban markets in India. The company’s BaaS platform enables electric vehicle (EV) users to swap discharged batteries for fully charged ones within minutes, reducing downtime and upfront vehicle costs. The model is aimed at high-usage segments such as last-mile delivery and passenger mobility.