Gurugram-based Battery Smart, a battery-swapping network for electric two- and three-wheelers operated by Upgrid Solutions, has secured $15 million in debt funding from Mirova, an affiliate of Natixis Investment Managers focused on sustainable investing. The company said the funding will be used to expand its battery-as-a-service infrastructure and strengthen its partner-led battery-swapping station network across urban and semi-urban markets in India.
