Outperformers Rankings 2026: Top 5 Start-Ups in the Clean Tech Segment

1. Battery Smart

Answer to range anxiety

100 of 100

• Founding year: 2019 | HQ: Gurgaon

• Founder: Pulkit Khurana, Siddharth Sikka

• Key Investors: MUFG, Blume Ventures, Tiger Global Management

Battery Smart introduced a differentiated model in the clean-tech space through battery swapping. At a time when the electric vehicle (EV) ecosystem was still nascent, the start-up proposed an alternative to conventional charging allowing customers to swap a discharged battery for a fully charged one at dedicated stations.

This approach was designed to make EV adoption faster, more affordable and more convenient.They launched their first battery-swapping station in 2020 and achieved a major milestone of 100mn swaps in December 2025. The start-up’s model is built around optimised energy usage, responsible sourcing and safe battery-lifecycle management.

Today, Battery Smart operates a tech-enabled, inclusive network across 50-plus cities, with 1,500-plus swapping stations, making EV adoption more affordable, reliable and accessible for commercial two- and three-wheeler users.

The start-up’s success lies in its core idea of strengthening the rapidly emerging EV ecosystem, which has helped it gain strong support from key EV stakeholders.

2. Zypp Electric

Ecofriendly option for last-mile delivery

88.7 of 100

• Founding year: 2017 | HQ: Gurgaon

• Founder: Tushar Mehta, Rashi Agarwal, Akash Gupta

• Key Investors: LetsVenture, Z Nation Lab, Dholakia Ventures

The start-up operates an EV-as-a-service platform aimed at electrifying last-mile logistics and delivery operations, with the objective of reducing urban pollution and promoting sustainable mobility.

Zypp primarily functions in the B2B segment, providing electric two-wheelers to delivery personnel associated with quick commerce, food delivery and logistics platforms. In addition to fleet provisioning, the company also undertakes delivery operations in partnership with its enterprise clients.

Under its asset-light model, Zypp rents electric scooters to delivery partners and drivers, known as ‘Zypp pilots’, including those working with platforms such as Rapido and other logistics and mobility players. This approach enables businesses to transition to cleaner delivery solutions without the need to own or manage EV fleets.

The platform offers its EV fleet on a subscription basis.

3. Lohum

Making critical mineral supply chain greener

78.7 of 100

• Founding year: 2018 | HQ: Noida

• Founders: Gazanfar Safavi, Justin Lemmon, Rajat Verma

• Key Investors: Stride Ventures, Vyoman India and Baring PE

Aligned with the principles of a circular economy, the start-up recycles end-of-life batteries to recover critical minerals such as lithium, cobalt, nickel and manganese helping reduce India’s dependence on imported resources. In addition, Lohum repurposes spent EV batteries for second-life applications, including stationary energy storage for solar power systems, telecom towers and backup power solutions.

Through these initiatives, Lohum works closely with battery manufacturers, EV makers and fleet operators to enable responsible battery lifecycle management and support a more sustainable EV ecosystem.

According to the company, over the past three years it has built the technology and infrastructure to recycle up to 2GWh of lithium-ion batteries annually and reuse around 300MWh of battery capacity per year through second-life applications.

4. SolarSquare

Easy switch to solar energy

67.6 of 100

• Founding year: 2015 | HQ: Mumbai

• Founders: Shreya Mishra, Nikhil Nahar and Neeraj Jain

• Key Investors: Gruhas, Lowercarbon Capital and Good Capital

SolarSquare is a residential rooftop solar company that provides end-to-end solar installation services. The start-up operates in the B2C segment, working directly with homeowners. Beyond installing solar panels, it handles the entire value chain system design, regulatory approvals and permits, installation, and operations and maintenance.

The company’s revenue model is driven by income from installations supplemented by long-term service and annual maintenance contracts.

According to its website, the company is now present in over 20 cities across the country and is working alongside the Prime Minister’s Surya Ghar Subsidy Scheme.

Over the next year, the start-up aims to more than double its business for the third consecutive year in 2026, with planned investments in branding, talent and technology to fuel this growth.

5. Yulu

Connecting urban India

60.1 of 100

• Founding year: 2017 | HQ: Bengaluru

• Founders: RK Misra, Amit Gupta, Naveen Dachuri, Anuj Tewari

• Key Investors: Magna International, Bajaj Auto, 3one4 capital

Yulu is a micromobility and shared electric mobility company. It not only promotes shared mobility but also provides affordable last-mile connectivity, enabling commuters to travel conveniently from metro stations to their homes. In addition, it supports delivery partners and gig workers by offering electric two-wheelers for hyperlocal deliveries on platforms such as Zomato and Swiggy. Today, Yulu has a strong presence across major metropolitan cities as well as several Tier–II and III cities.

Yulu has built a sizable operational footprint across India, with a fleet of approximately 40,000–45,000 EVs deployed nationwide. The platform has been used by millions of riders, collectively logging hundreds of millions of kilometres, contributing to meaningful CO2 emission avoidance.

Climate Change

Sentiment around the clean-tech sector has turned cautious in the near term amid policy uncertainty in key overseas markets such as the US. That said, the long-term outlook for the sector remains favourable, supported by global decarbonisation goals, energy security concerns and improving cost economics

Research and data partner: Ayvole