Battery tech startup Battery Smart appoints Amit Bhardwaj as CFO

Battery Smart, a startup providing battery-swapping services for electric two- and three-wheelers, has appointed Amit Bhardwaj as its new Chief Financial Officer (CFO).

Bhardwaj's extensive experience in financial strategy, risk management, and business growth is expected to bolster the startup's ongoing expansion efforts in the electric mobility space.

Bhardwaj's expertise and vision

With over two decades of experience in the financial sector, Bhardwaj has held leadership roles at renowned organizations, including Jubilant FoodWorks, Cars24, and Shiprocket.

At Battery Smart, he will focus on financial strategy, improving profitability, and enhancing governance practices. 

Pulkit Khurana, co-founder and CEO of Battery Smart, emphasized the significance of Bhardwaj's appointment, stating, "As we accelerate our growth, Amit's strong track record of financial acumen and strategic vision will play a key role in optimizing capital utilization and driving long-term profitability."

Growth trajectory and recent achievements

The appointment comes on the heels of a successful Series B funding round in June, where Battery Smart raised $65 million led by LeapFrog Investments and others.

The funds have supported the startup's rapid growth, including a 195% increase in revenue from operations, rising to Rs 164.6 crore in FY24 compared to Rs 55.9 crore the previous year.

Battery Smart’s innovative battery-as-a-service (BaaS) model, which allows customers to swap advanced lithium-ion batteries at its stations, has been pivotal in reducing upfront costs for electric vehicle users. The network caters primarily to electric two- and three-wheelers.