Pulkit Khurana and Siddharth Sikka, IIT Kanpur graduates believe entrepreneurship has been a turning point in their careers.
IIT graduates are renowned as some of the brightest minds in India, making significant contributions to the tech industry. Their exceptional talent and innovative thinking have paved the way for groundbreaking developments in technology. Such is the story of IIT Madras graduates Pulkit Khurana and Siddharth Sikka who founded an electric vehicle battery-swapping company, 'Battery Smart' in 2019.
The founders of Battery Smart, Pulkit Khurana and Siddharth Sikka, have been featured in this year's 40 under 40 list of emerging entrepreneurs. According to the 33-year-old IIT Kanpur graduates, starting their own business has changed the course of their careers. Founded in 2019, Battery Smart is a battery-switching firm based in Gurugram that presently operates 1,000 swapping stations across 28 cities.
Reflecting on their journey Khurana and Sikka say that starting their own business after leaving their first employment was a turning point in their careers. "I believe that the decision to launch this business was a turning point since it established our goals for the future. Even if that trip is still very early on, it at least started when we made that decision, Khurana told Fortune India.
About 50–60 battery swap stations are being established by Battery Smart every month, and the company presently does 55,000 battery swaps per day. Before the year ends, the firm hopes to expand to ten more cities with the fresh capital infusion.
Pulkit and Siddharth have raised $45 million from investors. These investors include Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund and British International Investment. According to an estimate by TheKredible, the Gurugram-based company has raised this new fund at a valuation of Rs 2,830 crore ($341 million).
Battery Smart, an electric vehicle battery-swapping company, aims to double its customer base and venture into 10 new regions.
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