making a molehill out of a mountain.
The Business
The proliferation of e-rickshaws across Indian metros has resulted in a large market for franchises that provide battery swapping services. Unfortunately, batteries are not adequately regulated and close to 100,000 e-rickshaws in Delhi are unregulated and are lacking fitness certificates. Most of these e-rickshaws tend to have faulty batteries which are prone to catching fire.
Sustainability Story
Ion Energy build battery management systems, which improve the performance of lithium ion batteries by improving their performance and increasing their reliability. This prevents batteries from breaking down or catching fire, which could help franchises and the battery swapping market to experience greater growth.
Peak's Angle
We believe that the BMS system of a battery is the most differentiated and has the greatest barriers to entry.
After being acquired by Freemens SAS, ION was able to get access to highly advanced BMS data. It's estimated that it would take a new entrant 2 years to reach this level of proficiency which gives Ion a competitive, first-mover advantage.
Founders
Akhil Aryan
Co-Founder & CEO of ION Energy
Forbes 30 Under 30
Alexandre Collet
Co-Founder & CTO of ION Energy
CEO of Freemens