India, May 30 -- Delhi NCR-based battery swapping startup Battery Smart has raised $29 Mn in its ongoing Series B extension round, sources told Inc42.

New York-based PE firm Rising Tide Energy led the round, which also saw participation from responsAbility, Ecosystem Integrity Fund, and LeapFrog Investments.

Confirming the development, Battery Smart said that it has raised the funds as part of an ongoing round. The startup said it is still in discussions with potential investors for raising additional funds.

Battery Smart said it will utilise the capital to deepen its presence in existing cities and drive expansion into new markets.

The funding round comes almost a year after the startup raised $65 Mn in its Series B round led by Leap...