Battery Smart is a revolutionizing startup dealing in battery-swapping model for electric two- and three-wheelers. It has lately taken a decisive step toward strengthening financial foundation by appointing Amit Bhardwaj as Chief Financial Officer (CFO).
Bhardwaj has ample experience steering businesses toward success. He has more than 20 years of experience in financial strategy and simultaneously has been in leadership roles at various companies including Jubilant FoodWorks, Cars24 and Shiprocket.
Battery Smart co-founder and CEO Pulkit Khurana said that the company is currently accelerate growth and said that the strong track record of Amit as well as his strategic vision will play a key role in optimizing capital utilization and driving long-term profitability.
Battery Smart raised $65 million in a Series B funding round a couple of months ago and it was led by LeapFrog Investments. The funding fueled rapid growth and it evident from the impressive revenue rise that jumped 195% to ₹164.6 crore in FY24 from ₹55.9 crore the previous year.
The innovative battery-as-a-service (BaaS) model of Battery Smart has been a game-changer for electric vehicle users. The company has tackled one of the biggest barriers in the EV space and it is high upfront costs.
Bringing Bhardwaj on board is a strategic move amid the startup is looking ahead to scale further. His expertise in financial planning and governance will be important in navigating the challenges of rapid expansion while maintaining profitability.
The vision of Battery Smart goes beyond business growth and it is about making electric mobility affordable and practical for millions. The appointment of Bhardwaj is a timely step and signals focus of the company on both growth and stability.
