VoltUp

Founded in 2019 by Siddharth Kabra, VoltUp is an operator of a battery-swapping network for electric two and three-wheeled vehicles in India. The company provides a solution to range anxiety and vehicle downtime by allowing users to exchange depleted batteries for fully charged ones in under two minutes at its network of swapping stations.

VoltUp operates on a Battery-as-a-Service (BaaS) and Mobility-as-a-Service (MaaS) business model. The BaaS model serves EV owners who can either purchase a VoltUp-powered vehicle or retrofit their existing one for compatibility, paying a fee per swap. The MaaS offering provides a comprehensive solution that includes both the vehicle and the battery subscription, primarily targeting gig workers and last-mile delivery agents who benefit from reduced total cost of ownership and minimal downtime. The company’s mobile application allows users to locate nearby swapping stations, manage payments, and track battery performance, while partners can monitor driver and battery usage through a dedicated platform.

The company's technology integrates AI and data analytics to optimize station locations and monitor battery performance and health in real-time. As of early 2025, VoltUp has raised a total of $18 million in funding over several rounds, with investors including EM Impact Capital, HDFC Bank, cKers Finance, Grip Invest, and GetVantage. The company plans to use the capital to expand its network to 2,000 stations across multiple cities, supporting the growing adoption of electric vehicles in India.

Keywords: battery swapping, electric vehicles, Battery-as-a-Service, BaaS, Mobility-as-a-Service, MaaS, EV infrastructure, India, two-wheelers, three-wheelers, last-mile delivery, gig economy, li-ion batteries, EV charging, sustainable mobility, clean energy, fleet management, telematics, pay-as-you-go, urban mobility