Cassetex offers battery-as-a-service for electric vehicles, utilizing battery swapping technology. Their service integrates energy storage, renewable energy sources, and IoT to provide a comprehensive EV battery solution.
Funding
$1.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Electric three-wheelers in Bangladesh, a primary mode of transport for millions, are predominantly recharged through a fossil fuel grid, contributing to pollution and hindering a fully sustainable transportation ecosystem. The reliance on grid electricity also poses challenges for energy access and affordability for drivers.
Solution
Cassetex offers a battery swapping service powered by solar energy, enabling a transition to renewable energy for electric three-wheelers and other last-mile electric vehicles. The service provides a network of swapping stations where drivers can quickly exchange depleted batteries for fully charged ones, reducing downtime and increasing vehicle utilization. By integrating solar recharging, Cassetex reduces grid dependency and promotes a cleaner energy source for transportation. The company also focuses on empowering women through the creation of micro-energy enterprises to manage and expand the swapping network. A mobile app allows drivers to check battery status, locate swapping points, and manage payments, ensuring a seamless experience.
Target Audience
The primary target audience includes electric three-wheeler drivers and owners seeking a convenient, affordable, and sustainable energy solution, as well as micro-entrepreneurs interested in managing and expanding the battery swapping network.
Features
- Solar-powered battery swapping stations for electric three-wheelers
- Mobile app for checking battery status, locating swapping stations, and managing payments
- Data-driven energy management for network expansion and demand forecasting
- Creation of micro-energy entrepreneurship opportunities for women
- Analytics-driven swapping network expansion
- Use of mobile financial services for payment