Xbattery, a Hyderabad-based deep-tech startup, has raised $2.3 million in seed funding led by the Bipin Patel Family Office, with participation from Jhaveri Credits. The funding will accelerate the development of advanced electric vehicle (EV) battery solutions, strengthen research and development (R&D) capabilities, expand production, and scale prototypes for commercialization.
Focus on Indigenous EV Battery Management Systems
Founded in 2024 by Satish Reddy, Sonu Mishra, and Varshith Rao, Xbattery is developing BharatBMS, India’s first high-voltage Battery Management System (BMS) designed for electric vehicles and stationary energy storage systems. The company aims to reduce India’s dependence on imported EV battery technologies while supporting the growth of locally manufactured, high-performance EV batteries.
Strategic Use of Funding
The capital will be used to:
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Upgrade R&D infrastructure and procure advanced hardware
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Expand engineering and production teams focused on EV battery innovations
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Scale prototypes for early EV deployments and commercial orders
Currently, Xbattery sources 60% of its components domestically, such as capacitors and resistors, while the remaining are imported from China and Europe. The company plans to first capture the Indian EV battery market, before expanding to Europe and North America.
EV Market Opportunity
With the global Battery Management System market valued at $278 million in 2024 and projected to reach $1.2 billion by 2033, Xbattery is positioned to capitalize on the rapidly growing demand for efficient, safe, and high-performance EV batteries.
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