An AI driven battery swapping and EV rental platform is redefining last mile electric mobility and drone battery technology in India by eliminating charging downtime and lowering the cost of fleet electrification.
What the company does
- Operates ultra fast battery swapping stations for electric 2 and 3 wheelers, allowing riders to exchange a depleted battery for a fully charged one in under 60 seconds
- Bundles EV rentals with unlimited swaps on a flat monthly subscription, giving delivery fleets and gig drivers predictable operating costs and avoiding high upfront vehicle and battery capex.
Technology edge
- Uses proprietary, AI driven predictive charging and patented variable fast charging technology to extend battery life by up to 40% while safely supporting rapid charging and multiple chemistries.
- IoT connected stations and packs feed a cloud platform that optimises charging, predicts demand peaks, and enables grid support/V2G services—turning idle batteries into virtual power assets and additional revenue streams.
Traction
- The company serves 18+ paying customers with ~75% gross margins (~43% post financing) and is cash flow positive.
Market and policy tailwinds
- Targets India's massive 2W/3W last mile segment, where millions of daily trips, rising demand from players like Zomato and Swiggy, and high fuel costs make swap based EVs compelling.
- Operates in a policy environment supportive of battery swapping via FAME II incentives, lower taxes for battery less EVs, and emerging interoperability standards, while grid constraints favour swapping over slow or capital intensive fast charging rollouts.