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

EntrackrEntrackr · 4d 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.

Behind The Rise Of Family Offices Changing The Indian Startup Investment Landscape

Inc42Inc42 · 1y ago
Behind The Rise Of Family Offices Changing The Indian Startup Investment Landscape
Medial

The Indian startup ecosystem recently surpassed $150 billion in funding in 2024, symbolizing a significant milestone. The achievement showcases the involvement of Indian angel investors, global venture capital firms, and family offices in supporting the growth of startups. Family offices, in particular, are recognized as patient capital and play a crucial role in scaling up tech startups in emerging sectors. The landscape is experiencing a generational shift, with younger high-net-worth individuals showing interest in investing in deep tech and AI startups. However, successfully investing in startups requires family offices to establish professional teams, define clear objectives, and deal with substantial annual expenses.

EV charging startup IPEC bags $3 Mn from Gruhas

EntrackrEntrackr · 7m ago
EV charging startup IPEC bags $3 Mn from Gruhas
Medial

EV charging startup IPEC has secured an investment of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. The proceeds will be used to strengthen its aim to consolidate its leadership status in the EV charging sector and accelerate growth in the broader power electronics domain, IPEC said in a press release. IPEC was founded in 2017 by the MEHER Group, together with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. The platform offers a range of EV charging products that include private, portable, and public chargers as well as EV Connectors and Vehicle Charging Inlets. These products are fully compliant with various national and international standards and the latest localisation regulations, including the PM E-Drive and PLI Scheme. Beyond hardware, IPEC also offers Cloud-based Charging Management Systems (CMS) and a user-friendly mobile app for real-time control and insights. IPEC is an approved supplier to leading EV OEMs like Ather Energy, Bajaj Auto, Greaves (Ampere), and more. The Bengaluru-based company aspires to drive energy transition in e-mobility with intelligent, reliable, and cost-effective charging solutions at scale that address India’s specific needs and the rising demand for locally manufactured alternatives. IPEC claims to have witnessed a 40% growth in revenue in FY25 and anticipates doubling its revenue in FY26. The company also plans to expand its avenues and capabilities into global markets. It claims to have delivered over 1 million EV charging products to the top EV OEMs in India and is gearing up to expand its manufacturing capacities to 50,000 units per month.

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