Neuron Energy, a developer of batteries for electric vehicles, has successfully raised Rs 20 crore ($2.4 million) in a Series A fundraising round. The funding was co-led by Chona Family and Capri Global Family Office.
The new funds will enhance its research and development capacities, which will involve creating a state-of-the-art R&D laboratory in Pune and establishing a manufacturing plant in Delhi.
Neuron Energy had previously secured an equivalent amount of funding in a pre-series A round.
Neuron Energy offers intelligent batteries utilizing lithium-ion and lead-acid technology specifically designed for bicycles, rickshaws, and golf carts. The platform collaborates with original equipment manufacturers (OEMs) and provides batteries to small and medium manufacturers who do not produce their own batteries. It asserts its collaboration with firms such as Komaki, YC Electric, E-Vishwa, EVTrick, 3ev, and 2.O.
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Neuron Energy’s Pune plant will prioritize improving battery life, decreasing charging time, and creating effective cooling systems. The Delhi facility of the Platform is projected to manufacture 100 MWh of batteries per year, exclusively for two-wheelers. The company’s objective is to achieve a revenue of Rs 150-200 crore in the current fiscal year.
About Neuron Energy
Founded in 2017 by Pratik Kamdar, Neuron Energy is a company providing sustainable mobility solutions with a well-established supply chain network presence in India.
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