Battery Smart has successfully raised $45 million in a Series B fundraise, with participation from 8 firms involved in the deal.

June 21, 2024

Battery Smart, also known as Upgrid Solutions Private Limited, has raised $45 million in a Series B fundraise led by Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment.

VERTICES PARTNERS represented Battery Smart in this transaction. The team was led by Vikrant Anand (Partner) along with Varun Kaka (Senior Associate), Prerna Bharti (Associate Manager), Yatin Chandra (Associate), and Liji Anna Thomas (Associate). Vinayak Burman, Founder & Managing Partner, provided strategic inputs.

Shardul Amarchand Mangaldas & Co advised LeapFrog, with the team led by Anuj Bhasme (Partner), and included Hardik Thakker (Principal Associate), Rishikesh Desai (Principal Associate), Anish Kapoor (Senior Associate), and Aakash Rao (Associate).

Trilegal advised MUFG Bank Limited, with a team led by Kabeer Mathur (Partner) and Komal Dani (Partner), along with Esha Himadri (Senior Associate), Chinmay Bilgi (Senior Associate), Dhaval Mehta (Associate), Harshit Dhandhia (Associate), Aparna Krishnakumar (Associate), and Akshar Bharadwaj (Associate).

AZB & Partners advised Tiger Global, with the team led by Gautam Rego (Partner), and included Karishma Dugar (Senior Associate), Ritum Kumar (Associate), Sukeshi Singh (Associate), and Neha Rajan (Associate). Gunderson Dettmer also represented Tiger Global, with a team led by Samuel S. Feldman (Associate) and Jessica S. Hart (Associate).


Burgeon Law advised Orios Venture Partners, led by Ankit Bhasin (Partner), along with Aastha Agarwal (Senior Associate) and Saransh Agarwal (Associate).

Goodwin Law advised Ecosystem Integrity Fund IV, LP, represented by Asmita Mishra (Associate).

Nishith Desai Associates represented the Selling Shareholder, with a team led by Vaibhav Parikh (Partner) and Muqeet Drabu (Associate).

This comprehensive representation underscores the complexity and strategic importance of the Series B fundraise for Battery Smart, facilitating significant growth and expansion opportunities in their sector.

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