Panasonic Decides to Invest in Upgrid Solutions, an Indian Startup, through the Panasonic Kurashi Visionary Fund

Osaka, Japan – Panasonic Corporation (https://www.panasonic.com/global/home.html) (Head office: Minato-ku, Tokyo; President & CEO: Masahiro Shinada; hereinafter referred to as Panasonic) today announced that it has decided to invest in Upgrid Solutions Pvt. Ltd. (hereinafter referred to as Upgrid Solutions), a provider of battery  swapping services for small EV mobility in the Indian market under the Battery Smart brand, through a corporate venture capital fund, commonly known as the Panasonic Kurashi Visionary Fund, jointly managed by Panasonic and SBI Investment Co., Ltd. This is the fund's first investment in a startup in India, which has invested in seven startups since its inception in July 2022.