Flowatt Battery Science Raises ₹2.2 Crore in Pre-Seed Funding

Greaves Electric Mobility

Bengaluru-based battery deep-tech startup Flowatt Battery Science has successfully raised ₹2.2 crore in a pre-seed funding round, marking a significant step forward in its mission to revolutionize India’s electric vehicle (EV) battery ecosystem. The investment was led by PedalStart, a prominent early-stage venture capital firm, and will provide the necessary capital for Flowatt to optimize its innovative battery technology and accelerate its go-to-market strategy.

A Tech-Driven Approach to Battery Management

Founded in 2023 by a team of experienced engineers, Flowatt Battery Science is focused on addressing some of the most critical challenges in the EV battery space. The company’s core innovation lies in its unique combination of:

  • IoT-enabled Tracking: Each battery is equipped with an IoT device that allows for real-time monitoring of its performance, location, and health.
  • Predictive Analytics: Flowatt uses advanced algorithms to analyze the data collected from its batteries, enabling predictive maintenance and early detection of potential issues.
  • Smart Asset Management: The company’s platform provides fleet owners with a comprehensive dashboard to manage their battery assets, optimize usage, and minimize downtime.

This technology-driven approach allows Flowatt to enhance the performance, reliability, and cost-efficiency of EV batteries, making them a more viable and attractive proposition for commercial fleet operators.

Pioneering the Battery-as-a-Service (BaaS) Model

At the heart of Flowatt’s business model is its Battery-as-a-Service (BaaS) platform. This innovative model allows EV fleet owners, particularly those in the last-mile logistics sector, to access batteries on a pay-per-use basis. The BaaS model offers several key advantages:

  • Reduced Upfront Investment: By eliminating the need to purchase batteries, the BaaS model significantly lowers the initial capital expenditure for fleet owners.
  • Predictable Operating Expenses: Fleet owners pay a fixed fee based on their usage, allowing for more predictable and manageable operating costs.
  • Minimized Downtime: The BaaS model includes battery swapping services, ensuring that vehicles are always on the road and not waiting for batteries to charge.
  • Enhanced Efficiency: Flowatt’s smart asset management platform helps fleet owners optimize their battery usage, leading to greater operational efficiency.

Ambitious Plans for Growth and Scale

Despite being a young startup, Flowatt has already achieved significant traction in the market. The company has deployed nearly 1,500 smart batteries across multiple Indian cities. With the fresh infusion of capital, Flowatt has set its sights on an ambitious growth trajectory. The company aims to:

  • Scale its network to 20,000 connected batteries.
  • Achieve a Monthly Recurring Revenue (MRR) of over ₹2.5 crore.
  • Expand its operations to more than 15 Tier 1 and Tier 2 cities by the fiscal year 2026–27.

The pre-seed funding will be used to optimize the company’s battery design, complete its proof of concept, and forge strategic partnerships with insurers, EV financiers, and original equipment manufacturers (OEMs). By solving the critical challenge of battery ownership economics, Flowatt Battery Science is well-positioned to unlock the full potential of commercial EV adoption in India and become a leading player in the country’s sustainable mobility revolution.

ELECTRIFYING INDIA’S LAST MILE