Pointo seeks ₹70-100 crore to scale battery refurbishment and distribution network

Kolkata-based lithium-ion battery distribution startup Pointo is expanding into e-autos, battery energy storage systems (BESS) and second-life applications.

Founded in 2023 by IIT Guwahati chemical engineer Riki Biswas and three co-founders, Pointo has seen its revenue run rate rise from about Rs 3 crore in FY24 to Rs 80 crore in FY26. The company expects revenue of Rs 150 crore in the current financial year.

Pointo currently serves about 25,000 customers through more than 22 physical hubs across West Bengal, Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan and Punjab. It plans to strengthen its micro-distribution network and expand its reach into Tier II and Tier III towns.

The company is currently focused on the e-rickshaw segment, which it estimates at around 50 lakh vehicles. It is also targeting L5 electric autos, BESS and second-life products. Biswas said about 8,000-10,000 electric autos are expected to require battery replacement from next year, creating demand for replacement lithium-ion batteries.

Pointo is developing a model covering battery deployment, buyback, refurbishment and second-life use. It has partnerships with lithium-ion battery original equipment manufacturers for co-branding and marketing, as well as with non-banking financial companies to provide finance-ready batteries to e-rickshaw drivers and fleets.

Batteries recovered during replacement can be refurbished or used in lower-demand applications such as home inverters. It operates a 20,000 sq ft research and development and refurbishment centre.

Its next expansion phase involves setting up an automated, large-scale refurbishment unit and increasing its distribution network. Pointo is in active discussions with investors to raise Rs 70-100 crore for the expansion, founder and CEO Riki Biswas said.

The proposed funding will be used for the automated refurbishment facility and expansion of the company's distribution network. Pointo had previously raised Rs 6.2 crore in a seed funding round led by Equirus InnovateX Fund.

The company said its expansion plans are focused on the e-auto, battery storage and second-life segments, while its network will support the collection and reuse of batteries as they are replaced.