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Clean Electric raises $6 million in funding from Info Edge Ventures, others

Economic Times

Economic Times · 10m ago

Clean Electric raises $6 million in funding from Info Edge Ventures, others

Clean Electric, a company specializing in fast-charging battery technology for electric vehicles and grid battery solutions, has secured $6 million in a funding round led by Info Edge Ventures, Pi Ventures, and Kalaari Capital. The funds will be used for research and development, expanding sales and operational teams, and developing new products focused on faster charging and renewable energy storage. Clean Electric's proprietary rapid charging technology can fully charge electric vehicles in under 12 minutes, addressing convenience and cost challenges in the adoption of electric vehicles. The company aims to extend its technology to electric four-wheelers and commercial vehicles in the next 12 to 18 months.

Related News

Exclusive: Info Edge, Pi Ventures lead Clean Electric’s Series A round

Entrackr

Entrackr · 10m ago

Exclusive: Info Edge, Pi Ventures lead Clean Electric’s Series A round

Energy storage solutions startup Clean Electric has raised Rs 48.5 crore (approximately $6 million) from existing and new investors. This is the second round of investment for the firm in the past 20 months. The board at Clean Electric has passed a special resolution to issue 31 equity and 12,328 Series A preference shares at an issue price of Rs 39,243 each to raise Rs 48.5 crore or $6 million, its internal documents accessed through Registrar of Companies (RoC) shows. Info Edge and Pi Ventures co-led the Series A with Rs 14.16 crore each while existing backer Kalaari Capital has pumped in Rs 14 crore. Angel investors Panjak Chaddah, Amit Kumar, Rama Advisors, and Lok Capital cumulatively have put in Rs 6.18 crore. Clean Electric will use proceeds for working capital requirements, expansion, capital expenditure, and general corporate purposes. According to TheKredible’s estimates, the company has been valued at around Rs 176 crore or $21.2 million post-allotment. Clean Electric has raised around $9 million to date including its $2.2 million seed funding led by Climate Angles and Kalaari Capital in 2022. According to the startup data intelligence platform TheKredible, Kalaari Capital is the largest external stakeholder with 20.7% followed by Info Edge and Pi Ventures which command 8.02% each, respectively. See TheKredible for the complete shareholding pattern. Founded in 2016 by Akash Gupta and Abhinav Roy, Clean Electric develops and manufactures advanced liquid-cooled battery solutions for two-wheelers, three-wheelers, and battery swapping, along with energy storage and infrastructure services. The company was in its pre-revenue stage until FY23 as its revenue from operations stood at Rs 34 lakh in the said fiscal year. Cean Electric is yet to file its annual results for the fiscal year ending March 2024.

Sneaker platform Culture Circle raises $2 million

Inshorts · 7m ago

Sneaker platform Culture Circle raises $2 million

Sneakers focussed ecommerce platform Culture Circle has raised $2 million in its seed funding round led by Info Edge Ventures. The round also saw participation from angel investors. The startup plans to use the capital to scale its operations globally, enhance technology, and reinforce its position as a digital marketplace for hyper-luxury goods.

NowPurchase Nets $6 Mn To Offer Tech-Led Procurement Solutions To Metal Manufacturers

Inc42 · 9m ago

NowPurchase Nets $6 Mn To Offer Tech-Led Procurement Solutions To Metal Manufacturers

SaaS marketplace startup NowPurchase has raised $6 million in a funding round led by existing investor Info Edge Ventures. The company plans to use the funds to expand its operations and introduce new solutions for the metal manufacturing industry. NowPurchase is also eyeing opportunities in Punjab, Rajasthan, and Tamil Nadu as part of its expansion strategy.

Anscer Robotics raises $2 mn in funding to drive global expansion

Inshorts · 4m ago

Anscer Robotics raises $2 mn in funding to drive global expansion

Anscer Robotics, a Bengaluru-based developer of intelligent autonomous mobile robots (AMRs), has raised $2 million in a seed funding round led by Info Edge Ventures. The startup designs advanced robotic solutions for manufacturing and supply chains, helping enterprises streamline their operations with automation.

Beauty ecommerce startup BuyEazzy raises $4.25 million in funding from Info Edge Ventures, others

Economic Times

Economic Times · 1y ago

Beauty ecommerce startup BuyEazzy raises $4.25 million in funding from Info Edge Ventures, others

Indian beauty and wellness-focused e-commerce platform BuyEazzy has raised $4.25 million in a funding round led by Info Edge Ventures. The startup, focused on smaller cities, aims to expand its operations to over 40 cities from its current presence in 10 Tier II-III cities in Karnataka and Tamil Nadu. The funding will be used for expansion, team building, and product enhancement. BuyEazzy had previously raised $1 million in funding in August 2022.

Clean energy startup Electric Hydrogen raises $380 million in latest funding round

Economic Times

Economic Times · 1y ago

Clean energy startup Electric Hydrogen raises $380 million in latest funding round

Electric Hydrogen (EH2) has secured $380 million in a Series C funding round, led by investors such as Fortescue, Fifth Wall, and Energy Impact Partners. The round also included investments from BP Ventures, Oman Investment Authority, Temasek, Microsoft's Climate Innovation Fund, and United Airlines Sustainable Flight Fund, among others. EH2, which develops electrolyser technologies for clean hydrogen production, aims to replace natural gas and coal with renewable green hydrogen. The startup has raised over $600 million since its inception in 2020, with significant investments from companies like Amazon and Honeywell.

NowPurchase, TechJockey, Bookmybai secure early-stage fundings

VCCircle

VCCircle · 9m ago

NowPurchase, TechJockey, Bookmybai secure early-stage fundings

NowPurchase, TechJockey, and Bookmybai have recently secured early-stage fundings. NowPurchase, a SaaS-enabled marketplace for metal manufacturers, raised $6 million in a funding round led by Info Edge Ventures. TechJockey.com, an online software marketplace, received a funding of Rs 7.40 crore with cricketer Rishabh Pant acquiring a 2% stake in the company. Bookmybai, a domestic help service provider, raised Rs 2 crore in a pre-Series A CCPS round led by Inflection Point Ventures. These fundings will support the expansion and growth of these respective companies.

Drug Discovery to Spacetech: Here Are Info Edge’s 18 Deeptech Startup Investments

OutlookIndia

OutlookIndia · 3m ago

Drug Discovery to Spacetech: Here Are Info Edge’s 18 Deeptech Startup Investments

Info Edge, an Indian company, has invested in 18 deep tech startups across various domains like spacetech, drug discovery, and robotics. These investments reflect Info Edge's focus on ventures with significant research and development, long gestation periods, and high impact potential. Despite challenges in funding timelines and commercialization, Info Edge remains committed to supporting deep tech from its balance sheet, aiming to bridge the gap between scientific breakthroughs and market readiness in India.

BuyEazzy Raises $4.25 Mn To Expand Into Remote Pockets

Inc42 · 1y ago

BuyEazzy Raises $4.25 Mn To Expand Into Remote Pockets

Beauty products ecommerce platform BuyEazzy has raised $4.25 million in a Series A funding round led by Info Edge Ventures. The Mysuru-based startup, founded by Rahul Aggarwal and Hariher B in 2021, aims to cater to the unfulfilled beauty and wellness needs of consumers in tier II cities, where access to a wide assortment of beauty products is limited. The funding will be used to expand to more than 40 cities and add 2 million offline users.

Info Edge files FIR against Rahul Yadav over 4B Networks fraud

Economic Times

Economic Times · 7m ago

Info Edge files FIR against Rahul Yadav over 4B Networks fraud

Info Edge, a consumer internet group, has filed a complaint with the Mumbai police against Rahul Yadav and others for alleged fraudulent activities involving funds from 4B Networks. Yadav, the cofounder of Housing.com, was fired in 2015. Info Edge had invested INR 295 crore in Yadav's new startup, 4B Networks, in 2021-22. After the startup failed to disclose financial details, Info Edge appointed Deloitte for a forensic audit. When 4B Networks did not provide the necessary information, legal action was taken. The co-founder of Info Edge admitted that investing in 4B Networks was a mistake.

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