Cassetex: Focused On Electrifying Everything with Batteries

They release about 45,900 metric tons of toxic lead into the environment every year. This pollution contaminates air, water, and soil, causing serious damage. Lead exposure can harm people’s health, affecting the brain, organs, and overall well-being. Improper disposal of these batteries makes the problem worse. Although electric three-wheelers seem eco-friendly, their batteries create significant environmental and health risks.

But now there is no need to worry anymore because the solution has come to relieve all of their respective headaches. Cassetex is a cleantech startup based in Bangladesh dedicated to reduce pollution from transportation.

Read the Cassetex success story, the innovative minds behind the startup, the startup story, the business model,the uniqueness of the company, future plans, and more.

Cassetex: Company Profile

Cassetex Startup Story

Ahmad Ad, the CEO of Cassetex, says that "batteries are essential for energy independence and reducing carbon emissions. But if they are not managed properly, they can cause harm."

This disappointing experience sparked a business idea in the founders' minds. To turn their idea into reality, they worked hard around the clock. Soon their efforts paid off, filling the gap with an innovative solution. Gopal Kumar Mohoto, Ahmad Ad, and Tauseef Anwar embarked on their entrepreneurial journey in 2020, launching their solution, Cassetex.

Cassetex- Founders

Bangladesh resident three electric vehicle pioneers — Gopal Kumar Mohoto, Ahmad Ad, and Tauseef Anwar — founded Cassetex. They are driven by the goal of reducing emissions in the transport sector from a startup named Cassetex, an innovative renewable energy solution for sustainable future.

What started as a simple Buddies have now become incredible and inspiring entrepreneurs, building something bigger together.

Ahmad Ad

With more than 21 years of experience, Ahmad Ad has expertise in various industries, including fashion, manufacturing, and renewable energy. Now, Ahmad serves as CEO at Cassetex. Currently, he is focused on the circular economy, sustainability, and renewable energy, working on the projects like transforming traditional vehicles into solar-powered electric ones and developing battery swapping stations for electric vehicles. At the platform, he is dedicated with a simple goal: to empower one million micro energy entrepreneurs by 2030, especially in developing countries.

Gopal Kumar Mohoto

Love crafting tech-powered solutions, Co-founder Gopal Kumar Mohoto serves as a CTO. Gopal focuses on making electric vehicles (EVs) affordable for everyone and using battery swapping and artificial intelligence (AI) to improve transportation, farming, and emergency responses through new technology that helps the environment.

Tauseef Anwar

Passionate in advanced technologies like electric vehicles, vision systems, industrial automation, digital fabrication, and the energy industry, Tauseef Anwar serves as a CBO with a focus on sustainability, efficiency, and innovation.

All three Bangladeshi founders are working towards making Bangladesh a global leader in clean and sustainable transportation using modern, high-quality electric vehicle batteries. Colleting their expertise and efforts the founders came up with an innovation solution, Cassetex.

Cassetex-Business Model

Cassetex is the first company in Bangladesh offering a service to swap batteries for electric three-wheelers (E3Ws). The company manages and supplies batteries for vehicles, ensuring they are well-maintained and perform optimally.

The enterprise delivers real-time energy consumption and battery status updates through mobile apps. Customers are charged only for the consumed energy, making it more flexible and affordable. Additionally, the business ensures a rapid 1-minute battery swap, allowing vehicle owners and drivers to maximize opportunities to earn with every trip.

The firm has developed an environmentally friendly technology that lowers energy costs, and uses energy in a smart way. Additionally, the company is working with experts to make their batteries last longer by using the best and latest battery technology available. Compared to other chargers, Cassetex's chargers are 25% more efficient.

The charging process is managed by a device called GenSwap, managing the charging process. GenSwap helps track how much energy is needed, keeps an eye on the chargers, and checks the health of the batteries to ensure they work well. Devices of the firm are capable of returning electricity to the national power grid.

All of Cassetex's charging stations use renewable energy sources like solar power. They've teamed up with local businesses that offer affordable and reliable solar energy. The firm is committed to being eco-friendly. The enterprise wants to be good for the environment. When their batteries die, they store them somewhere safe so that they can be recycled properly. This keeps harmful trash from ending up in the environment.

The uniqueness of Cassetex

With the launch of the Cassetex mEE program, Cassetex is taking the lead. Shopkeepers, mobile money agents, and tailors are among the small business owners who benefit from the Cassetex mEE initiative's assistance in operating battery-swapping stations. By selling electricity through these stations, these owners can increase their revenue.

This initiative is especially beneficial for women as managing battery-swapping stations is a low-effort task. It also offers an opportunity to enhance their existing businesses.

Additionally, the project helps make clean energy widely available and supports communities economically by creating new business opportunities.

Cassetex: Memorable Achievements

Since 2020, Cassetex's positive contributions have been acknowledged by experts worldwide. In 2022, the firm won second place at a competition called Youth4South Entrepreneurship, which took place at the GSSD Expo in Bangkok. In 2022, the company was chosen as one of the top competitors in the "CleanTech Startup" category at the World Cleantech Awards organized by the Cleantech Business Club.

In 2023, the organisation was chosen as one of the top ten companies in the "Innovation for our Climate and Environment" category by the UN SDG Digital program in New York. In 2024, the firm partner solutions were recognized as final winners of the SolarX Startup Challenge APAC, a competition focused on solar energy solutions. The enterprise is also involved in global programs that support clean technology startups, organized by the Westerwelle Foundation and Solar Impulse Foundation.

Cassetex- Future Plans

Cassetex has raised $1.6 million from investors worldwide, including two leading investment firms, Infusion Partners Ltd. and Waverider International Consulting Co Ltd.

With the funding, the firm plans to scale its operations by empowering small business owners, particularly women, to establish battery-swapping stations. These stations allow EV users to trade old batteries for fully charged ones, creating new opportunities in the green energy economy.

They aimed to reduce the cost of EVs and green energy technologies in countries like Bangladesh, Nepal, and East Africa, focusing on transportation, agriculture, and light industries.

FAQs