Hyderabad-based battery manufacturer Xbattery has raised $2.3 million (~₹203.95 million) in seed funding from Bipin Patel Family Office, with participation from Jhaveri Credits.

The fresh infusion of capital will accelerate the research and development (R&D) in battery management systems (BMS) and battery energy storage systems (BESS) development, and sourcing of specialized hardware and components.

It will also be used to expand the engineering and production teams and scale prototype production to meet rapidly growing consumer demand.

Xbattery is developing BharatBMS, a unified battery management system (BMS) platform for both electric vehicles and energy storage.

The company aims to reduce its dependency on foreign BMS technology by offering a “Made in India” solution. The BharatBMS is a unified, adaptable BMS that enhances safety, efficiency, and longevity for electric vehicles and stationary storage devices.

In an exclusive interview with Mercom India, Satish Reddy, Founder and CEO of XBattery, discussed India’s dependence on China for BMS technology, noting that China meets 75% of the global BMS needs.

Reddy had stated that the company has already secured significant orders, including a ₹36 million (~$426,297) deal with solar and real estate developers, which validates its market traction.

Reddy said that the company is also in talks with multiple auto original equipment manufacturers and BESS system integrators about integrating BharatBMS into their battery packs.

According to Mercom Capital Group’s 1H and Q2 2025 Funding and M&A Report for Energy Storage, corporate funding for energy storage companies fell sharply in the first half of 2025 to $9.1 billion across 55 deals. This represents a 41% year-over-year decline from $15.4 billion, resulting from 64 deals, in the same period of 2024.

The downturn was attributed to the uncertainty surrounding multiple policy and tariff changes in the U.S., including proposed cuts to the Investment Tax Credit and several provisions of the Inflation Reduction Act.