Ankit Mittal is co-founder of Sheru (https://sheru.se/). Sheru is a battery swapping network that allows electric autorickshaw drivers to swap batteries and pay for it as they use it, instead of having to purchase it. Since Sheru drivers don’t have to invest in batteries or wait hours for charging, they can be more productive and earn more. Sheru’s driver currently cover almost 15,000 kms per day and are growing by 50 per cent month on month.
Ankit holds an engineering degree from the BITS- Pilani, where he also met his co-founders-Shikhar and Nakul. All three of them were also colleagues at Grey Orange, where their friendship deepened and they decided to plunge into entrepreneurship.
We talk about:
1. Battery as an asset- Improving asset productivity
2. Battery swapping versus charging
3. Unit economics of swapping for drivers and Sheru
4. Sheru’s growth plans