Pointo's Rs 100 Crore Battery Plan Tests The Circular EV Promise
Founder Riki Biswas says Pointo is seeking Rs 70-100 crore to expand battery refurbishment and second-life operations for India's e-auto market.
Pointo's next fundraising target is not only an EV story; it is a test of whether India's small-format electric mobility market can build a circular battery economy at scale. The Bengaluru-headquartered startup is in discussions to raise Rs 70 crore to Rs 100 crore for a larger refurbishment unit and a wider ground distribution network.
Founder and chief executive Riki Biswas told PTI, as reported by ET EnergyWorld, that Pointo's revenue run rate has climbed to Rs 80 crore in FY26 from about Rs 3 crore in FY24. The company now expects to close the current financial year at Rs 150 crore, helped by battery demand from e-rickshaws, L5 electric autos, battery storage and second-life products.
The founder story matters because this is not a clean showroom version of India's EV shift. Pointo is working in the operational middle: leasing, financing, deploying, buying back, refurbishing and reusing lithium-ion batteries. Its model depends on distribution discipline, financing partnerships and field service, not only battery chemistry.
Pointo says it currently serves about 25,000 customers through more than 22 physical hubs across West Bengal, Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan and Punjab. It is now trying to deepen its micro-distribution network into Tier II and Tier III towns, where e-rickshaw economics are practical but battery access can still be patchy.
The circular-economy claim will be tested as battery replacement demand grows. Biswas said 8,000 to 10,000 electric autos could come up for battery replacement from next year, creating demand for new lithium-ion packs while also feeding second-life applications and battery-mineral recovery.
Pointo has already raised a Rs 6.2 crore seed round led by Equirus InnovateX Fund. The fresh raise would be a different kind of milestone: moving from proof of demand toward automated refurbishment capacity and a broader service footprint.
If Pointo can make batteries cheaper to access, easier to finance and more valuable after first use, it could strengthen the economics of everyday electric transport. If service quality or battery reuse lags, the circular promise will remain more attractive on paper than on the road.
Related Stories
Cosmochute’s $1.5 million pre-seed round backs a lunar-infrastructure bet
Cosmochute has raised $1.5 million to develop reusable lunar-surface robotics, with its three founders now focused on product development and engineering hires.
Kitchen Secret's first outside round puts distribution at the centre of its next chapter
Mother-and-son founders Renuka and Manav Kedia have raised Kitchen Secret's first external round, with the sauce brand targeting wider quick-commerce and B2B distribution.
Empirical Machines Puts a Returning AI Researcher at the Centre of India’s Next Funding Test
Shyamal Hitesh Anadkat’s new venture is reported to be discussing a maiden institutional round, placing scientific AI work and founder execution in the spotlight.
