Lithium-ion battery startup Pointo is actively engaging with investors to raise ₹70-100 crore for its next expansion phase, according to reports from Business Standard and ETAuto. The city-based startup, which previously raised ₹6.2 crore in a seed funding round led by Equirus InnovateX Fund, plans to deploy the fresh capital to build an automated, large-scale refurbishment unit and expand its ground distribution network across the country. Founder & CEO Riki Biswas told PTI that the company is in active discussion with investors to raise the required funds for this expansion, with the startup betting big on the expanding e-auto segment, battery storage systems (BESS) and second-life products to bolster its revenue.
The company has demonstrated remarkable revenue growth, with its revenue run rate jumping to ₹80 crore in FY26 from about ₹3 crore in FY24, as reported by Business Standard. Pointo expects to close the current financial year at a revenue of ₹150 crore. The startup, founded in 2023 by Biswas, a chemical engineer from IIT Guwahati, along with three co-founders, aims to build a closed-loop supply chain across battery deployment, buyback, refurbishment and second-life applications. The company is currently working in the e-rickshaw segment, which itself is a large market estimated at around 50 lakh vehicles, and plans to ramp up its presence in this segment while also expanding into L5 E-auto, BESS and second-life products.
The startup 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, according to Business Standard. Pointo has tied up with lithium-ion battery original equipment manufacturers (OEMs) for co-branding and marketing, alongside multiple NBFC partnerships to provide finance-ready lithium-ion batteries to e-rickshaw drivers and fleets. The company is now looking to strengthen its micro-distribution network to reach Tier II and Tier III towns, building a strong distribution network through a hub and spoke model. By eliminating high upfront costs and enabling instant access through financing tie-ups with non-banking financial companies (NBFCs), the company aims to redefine how India powers its electric vehicles.
The company sees significant opportunities in the expanding e-auto segment, battery storage systems (BESS) and second-life products, as reported by Business Standard. Biswas noted that starting next year, close to 8,000 to 10,000 electric autos are expected to come up for battery replacement, generating substantial demand for new lithium-ion batteries. The batteries retrieved during replacement will also serve as a key raw material source for second-life applications and new battery minerals. Pointo plans to convert end-of-life batteries into lower-use products such as home inverters for resale, helping shore up revenues while playing a crucial role in the circular supply chain. The company also sees huge opportunities in the L5 E-auto, BESS and second-life products, with an existing distribution network enabling efficient tapping into growing demand.
The startup currently operates a 20,000 sq ft R&D and refurbishment centre, and with a ready customer base, its next phase involves building an automated, large-scale refurbishment unit, according to Business Standard. Pointo is working in the e-rickshaw segment and aims to redefine how India powers its electric vehicles by eliminating high upfront costs and enabling instant access through financing tie-ups with non-banking financial companies (NBFCs). The company's next phase will focus on building the automated refurbishment unit and expanding the ground network across existing markets, positioning itself to efficiently tap into the growing demand for EV battery solutions.
