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Cancrie raises $1.2 Mn in seed funding round

Entrackr · 7h

Cancrie, a startup focused on advanced nanocarbon materials for energy storage, has raised $1.2 million in a seed funding round co-led by Roots Ventures and IIMA Ventures. The fund will be used to scale production, accelerate research and development, and forge strategic partnerships to integrate its advanced nanocarbon materials into next-generation energy storage devices. Co-founded in 2020 by Akshay Jain and Mahi Singh, Cancrie specializes in developing advanced carbon materials for energy storage devices, focusing on sustainability and performance. Its patented technology produces high-quality carbons designed to enhance battery performance across various chemistries, including lead-acid, lithium-ion, sodium-ion, redox flow batteries, and supercapacitors. The Jaipur-based company aims to create superior energy storage solutions using renewable resources while maintaining affordability and achieving net-zero emissions. By optimizing material specifications, Cancrie enhances electrochemical reactions, reduces internal resistance, and increases the utilization of active material by up to 14%. This helps mitigate e-waste.