Data Driven Impact for Private Equity Investors: Lessons from VoltUp’s Battery-Swapping Platform
EM Impact Capital, a UK-based investment management firm specialising in sustainable investments in emerging markets, is pioneering impact accounting in partnership with Richmond Global Sciences (RGS), a leading technology-driven analytics provider. Together, they assessed VoltUp, India's leading Mobility-as-a-Service (MaaS) platform specialising in battery-swapping for electric two-wheeler (e2w) and electric three-wheeler (e3w) vehicles.
RGS’s analysis based on impact accounting principles revealed compelling evidence: VoltUp generates $0.84 in positive environmental and social impact for every $1 in revenue, confirming that sustainability and profitability are mutually reinforcing. While the primarily aim of the company is to provide clean electric transport and the largest impact is environmental, there is also a significant social impact as the company facilitates higher earnings among the poorest members of society.
VoltUp’s primary impact areas include:
- Avoided Greenhouse Gas Emissions: Replacing internal combustion engine (ICE) vehicles significantly reduces carbon emissions, supporting a cleaner environment. In 2024, 1,924 metric tons of CO₂ were avoided.
- Reduced Air Pollution: Eliminating tailpipe pollutants such as PM2.5 and NOx, improving urban air quality and public health.
- Economic Empowerment: Low-income EV drivers saw a 79% increase in daily earnings, thanks to reduced operating costs and zero upfront ownership burden
VoltUp’s story shows how data-driven impact measurement can guide smarter investment decisions, validate scalable solutions, and unlock both financial and societal value.
Dive into the full case study by filling out the form.
Download Case Study
Fill out the form below to download our Case Study.
