Battery Smart, a leading battery-swapping network for electric two- and three-wheelers, has named Amit Bhardwaj as its Chief Financial Officer (CFO). Bhardwaj, an accomplished financial strategist, brings a wealth of expertise in financial planning, risk management, and business scalability. His appointment underscores Battery Smart’s commitment to fortifying its leadership in the electric mobility sector.
Before joining Battery Smart, Bhardwaj held the role of Vice President and Group Finance Controller at Shiprocket, where he played a pivotal role in driving financial operations and strategic growth initiatives.
Battery Smart has been making waves in the electric mobility ecosystem with its innovative battery-as-a-service (BaaS) model. Offering advanced lithium-ion batteries for electric two- and three-wheelers, the company enables riders to swap batteries seamlessly at any of its strategically located swapping stations. This service alleviates the high upfront cost of EV batteries, making electric mobility more accessible.
Earlier this year, Battery Smart secured $65 million in a Series B funding round led by LeapFrog Investments, a milestone that has fueled its ambitious expansion plans. The company also reported a remarkable 195% increase in operational revenue, reaching ₹164.6 crore in FY24 compared to ₹55.9 crore in FY23.
In addition to its financial and operational growth, Battery Smart has announced a strategic partnership with Zepto, a leading quick-commerce platform. Under this collaboration, 1,000 electric vehicles are set to be deployed by FY25, with Zepto’s delivery partners leveraging Battery Smart’s expansive swapping network to minimize downtime and ensure faster deliveries.
With Bhardwaj’s leadership and a robust growth trajectory, Battery Smart is well-positioned to further its mission of revolutionizing electric mobility in India.
