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Deep energy tech startup Emo Energy has raised $6.2 million in a Series A funding round led by Subhkam Ventures.
The funding round also saw participation from new and existing investors like Transition VC.
Funding Utilisation
The company plans to use the funds to scale its energy solutions for two- and three-wheelers to over 1 lakh vehicles in the next two years, enhance R&D for its battery health extension software, and grow its team.
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Sheetanshu Tyagi, cofounder and chief executive at Emo Energy, said, “We currently have around 2,000 batteries in operation within the hyperlocal delivery segment, and we aim to scale this to approximately one lakh vehicles, where they will use our battery packs, connected chargers, and entire energy software to develop a complete energy ecosystem.''
“Today, we intend to set up the infrastructure. So, first, we're selling batteries. People first need to get used to a better system and realise the value of how the extension of (battery) life helps. And that has started happening. Now even other companies are more and more interested,” he said.
In May last year, Emo Energy raised $1.2 million in a funding round led by Transition VC and Gruhas.
So far in FY25, the startup has earned ₹10 crore in revenue and aims to double this amount by March of the current fiscal year.
About Emo Energy
The Bengaluru-based Emo Energy was founded in 2022 by Sheetanshu Tyagi and Rahul Patel, it provides hardware and software battery solutions.
The company claims that its technology enables 20-minute charging and extends battery life to over five years. It serves clients such as Kinetic Green, BigBasket, Domino's and Blinkit.
The company said that over 90% of its revenue currently comes from battery sales, with the rest from its software solution. However, it expects the software solution to make up more than 50% of its revenue in the next three to five years.
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