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Battery cell manufacturer Rincell Corporation raises $1.2M led by US-based NextGen Battery Chem Ventures LLC

IndianStartupNews

IndianStartupNews · 1y ago

Battery cell manufacturer Rincell Corporation raises $1.2M led by US-based NextGen Battery Chem Ventures LLC

Battery cell manufacturer Rincell Corporation has raised $1.2 million in a seed funding round led by NextGen Battery Chem Ventures. The company, founded in 2023 by Jignesh Parikh and Dr. Jagjit Nanda, manufactures performance silicon-graphite, LMFP, and sodium-ion batteries. The funding will be used to accelerate the production of their silicon-graphite batteries and expand their partnerships, including with Inventus Power.

Related News

Battery maker Rincell Corp, kids apparel brand Kidbea raise early funding

VCCircle

VCCircle · 1y ago

Battery cell manufacturer Rincell Corporation has raised $1.2 million in seed funding, led by NextGen Battery Chem Ventures. The company manufactures silicon-graphite, lithium manganese iron phosphate, and sodium-ion batteries. They aim to begin commercial production of silicon-graphite batteries in 2024. Meanwhile, children's clothing brand Kidbea secured $1 million in pre-Series A funding, led by Venture Catalysts. The funds will be used for marketing, team expansion, R&D, and operational improvements. Kidbea offers a range of bamboo plant-based children's apparel and is available on various online platforms and in partnered stores.

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

Entrackr

Entrackr · 3m ago

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact. Shashank Pathak 05 May 2025 11:12 IST Follow Us New Update Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact, Supermorpheus, and returning investor Cocoon Capital have also participated. The total funding raised by the Bengaluru-based startup now stands at $4.02 million. The proceeds will be used to scale up manufacturing and expand its team. Founded in 2019 by Animesh Kumar Jha, Volt14 focuses on developing silicon-based anode materials for lithium-ion batteries. It has also developed an in-house cylindrical battery cell format demonstrating energy density enabled by its silicon anode. Volt14 claims that its technology increases silicon content in anodes while maintaining performance levels and is currently being evaluated by multiple battery cell manufacturers. According to market research, the lithium-ion battery sector is projected to exceed $300 billion by 2034, driven by electric vehicle adoption and energy storage expansion. Blume Ventures, the lead investor in this round, is also one of the early backers of Battery Smart, which is the most funded startup in the space.

JSW to launch 60,000-tonne lithium-ion cell project with Chinese tech partner

Livemint

Livemint · 1y ago

JSW to launch 60,000-tonne lithium-ion cell project with Chinese tech partner

JSW Group is reportedly finalizing a technology transfer partnership with a leading Chinese lithium-ion cell manufacturer to establish a 60,000-tonne lithium-ion refinery and cell factory in Paradip, India. The move reflects the increasing trend of Indian companies seeking Chinese expertise in battery technologies for electric vehicles. By securing affordable battery technology and promoting localized manufacturing, JSW aims to reduce production costs and decrease reliance on Chinese supply chains. The partnership is part of JSW's strategy to support its renewable energy goals and achieve its target of selling 1 million EVs in India by the end of the decade.

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung | Mint

Livemint

Livemint · 1y ago

GM delays Indiana EV battery factory amid weak US market growth, seals joint venture deal with Samsung | Mint

Production at the General Motors and Samsung SDI electric vehicle battery cell plant in Indiana has been delayed until 2027, as EV sales in the US have slowed. The joint venture, which was announced last year, aims to produce nickel-rich prismatic batteries to lower costs and improve driving range. The delay is attributed to market conditions and contractual issues. Despite the slowdown in EV sales, the US electric vehicle market still grew by roughly 7% in H1 2021. GM and Samsung also have three other joint venture battery cell factories.

Hindalco set to acquire AluChem for $125 mn as it expands into high-tech alumina

Livemint

Livemint · 2m ago

Hindalco set to acquire AluChem for $125 mn as it expands into high-tech alumina

Hindalco Industries Ltd plans to acquire US-based AluChem Companies Inc., a specialty alumina manufacturer, for $125 million to expand into high-tech alumina. This move marks Hindalco's third acquisition of a US metal company, following Novelis Inc. in 2007 and Aleris Corp. in 2020. The acquisition, through Hindalco's subsidiary Aditya Holdings LLC, aims to unlock synergies, expand product portfolios, and provide access to the US market.

Ultraviolette raises $21M from TDK Ventures, others

YourStory

YourStory · 16d ago

Ultraviolette raises $21M from TDK Ventures, others

Ultraviolette Automotive, an electric motorcycle manufacturer, secured $21 million in funding led by TDK Ventures, alongside Zoho Corporation and Lingotto. This investment supports Ultraviolette's expansion in India and its European entry earlier this year with F77 models. The company aims to enhance manufacturing, research, and distribution networks, reinforcing its commitment to innovative mobility solutions. This follows increased activity and supportive government policies in the Indian EV sector, with competitors like Ola Electric entering the market.

Manufacturing startup Autocracy Machinery raises $1.2M led by Venture Catalysts, others

IndianStartupNews

IndianStartupNews · 1y ago

Manufacturing startup Autocracy Machinery raises $1.2M led by Venture Catalysts, others

Autocracy Machinery, a manufacturer of trenching and construction machinery, has raised $1.2 million in a seed funding round. The Indian startup plans to use the funds to expand its distribution network, invest in R&D, and enhance manufacturing capabilities. Venture Catalysts led the round, with participation from individual investors and HEM Angels, VC Grid, and S Four. Autocracy aims to contribute to the 'Make in India' initiative by providing efficient, locally designed machinery for various sectors. The company has seen significant revenue growth and aims to achieve revenues of Rs 60 crore by 2025.

PLI Scheme: IPO-Bound Ola Electric Gets Domestic Value Addition Certificate

Inc42 · 1y ago

PLI Scheme: IPO-Bound Ola Electric Gets Domestic Value Addition Certificate

Ola Electric, an IPO-bound startup, has become the first Indian two-wheeler manufacturer to receive the domestic value addition (DVA) certificate under the production linked incentive (PLI) scheme for the automobile and auto component industry. This certification enables Ola Electric to be eligible for incentives ranging from 13% to 18% of determined sales value for up to five consecutive financial years. The PLI scheme aims to boost domestic manufacturing and promote clean mobility in India. Ola Electric is also awarded capacity under the PLI scheme for advanced chemistry cell battery storage.

Orkes specializing in application orchestration raises $20 million from Nexus Venture Partners, others

IndianStartupNews

IndianStartupNews · 1y ago

Orkes specializing in application orchestration raises $20 million from Nexus Venture Partners, others

Cupertino-based startup Orkes has secured $20m in funding, led by Nexus Venture Partners and featuring participation from Battery Ventures and Vertex Ventures US. Orkes provides an AI orchestration platform that enables the integration of complex generative AI-powered workflows into applications. The startup's technology is used by businesses in banking, insurance, entertainment, media and healthcare for complex application development and workflow automation. Orkes plans to use the funding to expand its offerings and continue its growth trajectory, which has seen revenue triple in the past year.

Celadyne Raises $4.5M in Seed Funding

Finsmes · 1y ago

Celadyne Raises $4.5M in Seed Funding

Chicago-based decarbonization and hydrogen solution company, Celadyne, has secured $4.5 million in Seed funding. Led by Maniv and Dynamo Ventures, with EPS Ventures also participating, the funds will be used to expand the team, which includes engineers from various backgrounds, and support the development of its materials technology. Celadyne offers advanced technologies and materials to fuel cell and utility companies, making hydrogen production and usage more efficient across heavy-duty industries. The company is set to double its customer base by the end of the year.

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