RACEnergy
- Company typePrivate
- Founded2018
- HeadquartersHyderabad, India
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What RACEnergy does
RACEnergy is a Hyderabad-based deep-technology company founded in 2018 that builds and deploys battery-swapping infrastructure specifically for electric two-wheelers and three-wheelers in India. The company's core offering is a modular swapping system that allows EV operators to exchange depleted batteries for fully charged ones in minutes, eliminating the downtime associated with conventional charging and avoiding upfront battery ownership costs. Its technology targets an underserved segment of the Indian EV market — light electric vehicles used in last-mile delivery and shared mobility — where charging infrastructure is poorly suited to commercial duty cycles.
The company's go-to-market is built around B2B channel partnerships rather than direct end-customer sales. RACEnergy has established strategic alliances with HPCL (Hindustan Petroleum Corporation Limited) for deploying swapping stations at existing fuel-station sites across India, and with Hala Mobility to integrate the swapping technology into commercial EV fleet operations. The company earns revenue through per-swap transaction fees on its stations and through sale/deployment of swapping hardware to operator partners. Pricing details are not publicly disclosed.
RACEnergy has raised approximately USD 4.3 million across a 2021 Seed+ round led by Micelio Fund and growX Ventures, and a 2023 pre-Series A round led by growX Ventures, with participation from Axilor Ventures, Huddle, Prophetic Ventures, and BITSian Angels. The company has also received non-dilutive support from Renault Nissan Technology & Business Centre India, T-Hub, and Third Derivative. Its website still displays 'Launching Soon' content, and the company has no disclosed patents, named end customers, or disclosed revenue figures, indicating operations remain in the pre-commercial or early pilot stage. Co-founders Arun Sreyas Reddy and Gautham Maheswaran lead the business.
RACEnergy firmographics
Firmographics- Name
- RACEnergy
- Legal name
- racenergy.in
- Website
- https://racenergy.in
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
RACEnergy industry classification
Industry- Product category
- EV Battery Swapping Infrastructure
- NAICS
- Switchgear and Switchboard Apparatus Manufacturing (335313)
- akta.pro primary industry
- Charging Systems & Swappable Battery Infrastructure Manufacturing (IMACAOAF)
- akta.pro secondary industry
- Micromobility Charging & Battery Swapping Services (THADAGAL)
Keywords
Where RACEnergy is headquartered
LocationHeadquarters
- HQ city
- Hyderabad
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
RACEnergy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- Battery Swapping Service: RACEnergy operates battery swapping stations where EV owners can exchange depleted batteries for charged ones, generating revenue through per-swap fees. The company also generates revenue from deploying and operating the swapping infrastructure.
- Battery Swapping Infrastructure: Sale and deployment of battery swapping stations and infrastructure to partners and operators
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
RACEnergy product offering
Product offeringCore offering
RACEnergy develops and deploys proprietary battery swapping infrastructure for electric two-wheelers and three-wheelers, enabling operators to exchange depleted batteries for charged ones in minutes instead of hours. The company builds modular swapping stations and integrates them through partnerships with fuel station operators (HPCL) and mobility service providers (Hala Mobility), and operates swapping stations generating per-swap transaction revenue.
Product overview
RACEnergy offers a battery-swapping technology platform for electric vehicles, specifically targeting two-wheelers and three-wheelers. The company develops and deploys modular battery-swapping systems that allow EV operators to quickly exchange depleted batteries for charged ones, reducing vehicle downtime and enabling continuous operation.
Differentiator
Problem solved
Functional benefit
Products and services
- Battery Swapping Technology and Infrastructure Proprietary modular battery swapping system enabling electric two-wheelers and three-wheelers to exchange depleted batteries for charged ones in minutes, reducing vehicle downtime from hours of charging. Designed for deployment at fuel station locations and integration with commercial mobility fleets.
Quantifiable outcome
- Battery swap completed in minutes vs hours for traditional charging
Companies that use RACEnergy
Customer profileSegments2 records
Ideal customer profiles3 records
RACEnergy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
RACEnergy partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- HPCL (Hindustan Petroleum Corporation Limited)coreStrategic partnership to deploy battery swapping stations at HPCL fuel stations across India. This partnership provides strategic real estate and existing infrastructure for rapid scaling.
- Hala MobilitycorePartnership with Hala Mobility to integrate RACEnergy's battery swapping technology into their EV mobility services and fleet operations.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
RACEnergy competitors and assessment
Company assessmentDirect peers
- Battery Smart: Delhi-NCR focused battery-as-a-service operator for electric 2W and 3W, leveraging partner-run swap stations and interoperability with multiple OEM vehicles. Most directly comparable to RACEnergy in customer segment (delivery/fleet operators) and asset-light partnership model.
- Bounce Infinity: Indian e-scooter OEM and shared mobility operator that commercialised a swappable-battery scooter and swap network. Competes with RACEnergy both on the vehicle side and as a swap infrastructure provider in tier-I cities.
- Sun Mobility: Bangalore-based battery swapping network for 2W, 3W and 4W EVs across India. Operates a partner-driven station model and targets the same fleet and last-mile customers as RACEnergy, with significantly larger funding and a broader OEM partner roster.
Emerging players
- Honda Power Pack Energy Exchange: Honda's India-launched swappable-battery service for 2W and 3W using Honda Mobile Power Pack. Comparable battery-as-a-service model, but backed by a major OEM that could squeeze out independent networks like RACEnergy in OEM-anchored fleets.
- Yulu: Bangalore-based shared micromobility operator whose electric 2Ws use a swappable-battery architecture supported by partner stations. Overlapping use case (urban 2W battery swap) but with primary focus on shared mobility rather than B2B fleet infrastructure.
- Simple Energy: Indian electric 2W startup developing swappable-battery architecture for its scooters. Competes with RACEnergy on the vehicle side and could either become a customer for swap infrastructure or a competing network operator.
Broad incumbents
- Gogoro: Taiwan-based pioneer and global leader in 2W battery swapping with thousands of stations and a vehicle-plus-network ecosystem. Functions as a broad incumbent benchmark for the swap architecture RACEnergy is deploying in India.
- Ather Energy: Premium Indian electric 2W OEM with its own fast-charging grid (Ather Grid). Comparable customer segment and EV focus, though Ather's strategy centers on its own vehicles and proprietary charging rather than interoperable battery swap.
- Ola Electric: India's largest electric 2W manufacturer, exploring proprietary charging and swap solutions for its own scooters. Represents a competitive threat if Ola vertically integrates swap infrastructure rather than partnering with neutral networks like RACEnergy.
- Hero MotoCorp (Vida): India's largest 2W manufacturer with its Vida electric brand, exploring battery swap and fast-charging solutions. A key incumbent whose go-to-market choices around open vs. proprietary swap networks will shape RACEnergy's addressable market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
RACEnergy social profiles
Digital presenceRACEnergy financial estimates
Financial estimateRevenue estimate
Valuation estimate
RACEnergy leadership team
Management profileNumber of profiles
Profiles2 records
RACEnergy funding detail
Funding detailFunding overview
Funding rounds8 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RACEnergy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RACEnergy
What does RACEnergy do?
RACEnergy develops and deploys proprietary battery swapping infrastructure for electric two-wheelers and three-wheelers, enabling operators to exchange depleted batteries for charged ones in minutes instead of hours. The company builds modular swapping stations and integrates them through partnerships with fuel station operators (HPCL) and mobility service providers (Hala Mobility), and operates swapping stations generating per-swap transaction revenue.
Is RACEnergy a public or private company?
RACEnergy is a private company. It is classified as venture growth investor backed and is currently operating.
When was RACEnergy founded?
RACEnergy was founded in 2018. It employs 51 to 100 people.
Where is RACEnergy based?
RACEnergy is headquartered in Hyderabad, India, in the Asia region.
How does RACEnergy make money?
Two revenue lines are on record. Battery Swapping Service is the primary driver. The others are battery Swapping Infrastructure.
Who are RACEnergy's main competitors?
Direct peers on record are Battery Smart, Bounce Infinity and Sun Mobility. Emerging players are Honda Power Pack Energy Exchange, Yulu and Simple Energy. Broad incumbents are Gogoro, Ather Energy, Ola Electric and Hero MotoCorp (Vida).
Does RACEnergy have an API?
No public API is recorded for RACEnergy.
What industry is RACEnergy in?
RACEnergy's product category is EV Battery Swapping Infrastructure. Its primary akta.pro industry code is IMACAOAF, Charging Systems & Swappable Battery Infrastructure Manufacturing, with a secondary code of THADAGAL, Micromobility Charging & Battery Swapping Services. Its NAICS code is 335313.