VoltUp has over 150 stations with more than 1800 charging docks across 10 cities and 8 states
cKers Finance, an NBFC focused on financing sustainability and clean energy transition in India provided a debt facility to VoltUp, a Battery-as-a-Service (BaaS) provider, offering riders with swappable batteries.
VoltUp helps enable a quick turnaround for discharged EVs within a minute ensuring nil downtime to the users and zero hassles for all battery-related issues facilitating a unique solution to the current challenges faced by EV industry viz. range anxiety, charging time & affordability.
VoltUp has over 150 stations with more than 1800 charging docks across 10 cities and 8 states. It has built partnerships with infrastructure partners like HPCL, BPCL, Adani Electricity and more along with the deployment of a distributed franchisee network.
Speaking about the debt facility from cKers, Siddharth Kabra, founder, Voltup said, "The debt availed from cKers will augment VoltUp's growth trajectory. We will be using this fund to increase our footprint within the markets we are presently operating in. There has been a consistent uptake on both battery swapping and demand for e-2 & e-3 wheelers with swappable battery."
Speaking about the partnership, Deepak Gupta, chief business officer at cKers said, "cKers has taken a leading position in financing the clean energy transition in the eSCVs (Electric Small Commercial Vehicles) segment by financing more than 10,000 EVs already, directly or indirectly, including e2Ws, e3W-loaders and eRickshaws."
cKers is a clean energy financier which is leveraging its understanding of the clean energy ecosystem and technology to develop credit risk underwriting frameworks for assessing viability and risk monitoring for the vehicles being deployed, while offering a lower total cost of ownership and low carbon alternative to end customers.