Battery startup Pointo seeks fresh funds to scale up EV network and recycling

Expansion Plans

Lithium-ion battery startup Pointo is planning to raise between 70 and 100 crore rupees from investors to fund its next growth phase. The fresh capital will help the city-based company build a large-scale automated refurbishment unit and grow its ground distribution network across the country. Founder and CEO Riki Biswas stated that the firm previously raised 6.2 crore rupees in a seed funding round led by Equirus InnovateX Fund.

Revenue Growth

The company reported a sharp jump in its revenue run rate, reaching 80 crore rupees, up from about 3 crore rupees previously. Pointo expects to close the current financial year with 150 crore rupees in revenue. Founded in 2023 by Biswas, an IIT Guwahati chemical engineer, along with three co-founders, the startup aims to create a closed-loop supply chain covering battery deployment, buyback, refurbishment, and second-life uses.

Market Reach

Pointo currently serves 25,000 customers through more than 22 physical hubs spread across six states: West Bengal, Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan, and Punjab. The firm partners with non-banking financial companies to provide financing for e-rickshaw drivers and fleets, while also working with original equipment manufacturers for co-branding. Biswas noted that the e-rickshaw market alone has an estimated 50 lakh vehicles, and the firm sees major new opportunities in L5 e-autos, battery storage systems, and second-life products like home inverters.

Context

India's growing adoption of electric vehicles has created a strong need for reliable battery supply chains, servicing, and recycling infrastructure. Startups in this sector often focus on reducing upfront ownership costs through financing partnerships and battery swapping or buyback models. Managing end-of-life batteries safely is also a key part of supporting long-term sustainable transport growth.