Tiger New Energy

Tiger New Energy is a Bangladeshi Clean Energy startup founded in 2022 by Nicole Mao (CEO). The company provides battery-swapping technology for electric vehicles (EVs), offering "battery as a service" for electric three-wheelers, cars, and other vehicles. Tiger New Energy was featured on Forbes Asia's "100 Startups to Watch" list for 2024 — one of only two Bangladeshi startups to receive this prestigious recognition.

🚀 Founding Story

Tiger New Energy was founded in 2022 to address a critical barrier to EV adoption in Bangladesh: the cost and time associated with battery charging. Instead of requiring EV owners to purchase expensive batteries and wait hours for charging, Tiger New Energy developed a battery-swapping network where depleted batteries can be exchanged for fully charged ones in minutes. The company has rapidly expanded to over 100 battery-swapping stations across Bangladesh.

💰 Investment History

Tiger New Energy has raised significant venture capital:

• 🌱 2023 — $2.5 million seed funding led by Wavemaker Partners
• 📈 June 2024 — $1 million from ADB Ventures (Asian Development Bank's venture arm)

Total funding: $3.5 million. The company is backed by both private venture capital and international development finance institutions.

🔋 Technology & Impact

Tiger New Energy's battery-swapping network provides:

• ⚡ Battery as a Service — EV owners don't need to buy expensive batteries
• 🔄 Instant swapping — Exchange depleted battery for charged one in minutes
• 🛵 EV three-wheelers — Primary market is electric three-wheelers (easy bikes)
• 🌍 100+ swapping stations — Network across Bangladesh
• 🌱 Clean energy — Reduces carbon emissions from traditional fuel vehicles

Bangladesh has millions of three-wheelers (locally called "easy bikes") that traditionally run on charged lead-acid batteries. Tiger New Energy's lithium battery swapping technology provides a cleaner, faster, and more cost-effective alternative.