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Hyderabad-based maker of modular swappable lithium-ion batteries for electric vehicles that can be exchanged in under five minutes.
Racenergy, founded in 2018 by Arun Reddy and Gautham Maheswaran in Hyderabad, India, develops modular swappable battery technology for electric vehicles. Its high energy density lithium-ion batteries can be swapped in under five minutes and serve individual EV users and fleet operators, mainly in urban India. Revenue comes from partnerships and franchise agreements for swapping stations, plus direct battery sales to businesses. In May 2023 it raised USD 3.00 mn in pre-Series A funding led by GrowX Ventures.
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