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EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round

EntrackrEntrackr · 2d ago
EV battery manufacturer Neuron Energy raises Rs 31 Cr in pre-Series B round
Medial

EV battery manufacturer Neuron Energy has raised Rs 31 crore ($3.5 million) in a pre-Series B funding round co-led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, and Chona Family Office, along with participation from other family offices and HNI investors. The Mumbai-based company had previously raised Rs 20 crore in a Series A round co-led by the Chona Family and Capri Global Family Office in August last year. With this pre-Series B investment, Neuron Energy has raised a total of Rs 80 crore to date. The fresh capital will be used to expand its manufacturing capacity to 3 GWh and establish a fully automated, state-of-the-art facility for electric four-wheelers and buses. It will also be used to strengthen R&D capabilities, accelerate domestic growth, and expand the company’s footprint in international markets, Neuron Energy said in a press release. Founded in 2018 by Pratk Kamdar, Neuron Energy manufactures electric vehicle (EV) batteries and offers a wide range of mobility solutions powered by advanced lithium-ion technologies. The company is also actively developing next-generation sodium-ion solutions. It focuses on quality, innovation, and sustainability, aiming to drive the next wave of growth in India’s clean mobility sector. Neuron Energy said it has developed smart battery management systems and innovation-led products, and that its new facility reinforces its leadership in the two-wheeler EV battery segment. The company also plans a strategic entry into heavier vehicle categories. Neuron Energy added that it operates on a low-CapEx and low-OpEx business model, enabling strong operating leverage. The company claims to have been growing profitably year-on-year and is on track to achieve Rs 200 crore in revenue this year. It aspires to surpass Rs 900 crore in sales, with continued profitability, over the next few years.

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Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV

EntrackrEntrackr · 17d ago
ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV
Medial

ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV EV charging startup ACS Energy has raised Rs 1.1 crore (around $132K) in a pre-seed funding round led by Inflection Point Ventures (IPV). The proceeds will be used to deploy 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat, and to develop AI-driven energy management systems for high-rise buildings. Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy is a UPI-enabled EV charging platform, combining hardware and software to make charging more efficient and accessible. Its chargers support two, three, and four-wheelers and integrate with the ACS Pay system, allowing users to complete transactions instantly through UPI. The startup is addressing a major gap in charging infrastructure for high-rise buildings and residential complexes, offering AI-based systems that manage power distribution and reduce energy waste. Currently active in Mumbai, Pune, Surat, Ahmedabad, and Kerala, ACS Energy plans to expand nationwide. As per market research, India’s EV charging market is projected to reach $13 billion by 2032, and ACS aims to be a key player in this growth by enabling seamless, digital-first charging experiences.

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

EntrackrEntrackr · 6m ago
Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures
Medial

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.

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