Clear Electric raised $2.2 million in a seed round Battery Manufacturing Startup Clean Electric Raises $2.2 Million in Seed Fund
Bengaluru-based early-stage venture capital firm Kalaari Capital to build 5,000 EV battery packs monthly from a proposed manufacturing site in Pune.
Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation were among the other investors in the round.
Clean Electric stated that the monies raised would be used to research safety and performance issues such as EV fires, long charging times, and frequent battery replacement.
A portion of the funding will be utilized to create better goods in the areas of quick charging, renewable energy storage, battery swapping technologies, and research and development.
Clean Electric stated that its new battery pack production line adheres to the standards of the AIS-156 Phase-II EV battery testing standard, which the Ministry of Road Transport and Highways stated will be adopted in March 2023. The new items will most likely be available for certification testing by the end of the year.
The Ministry of Road Transport and Highways made changes in September that included extra safety criteria for battery cells, battery management systems, onboard chargers, battery pack design, and thermal propagation owing to internal cell short circuits that resulted in fires.
Clean Electric, which was founded in 2020, manufactures liquid-cooled battery solutions for two and three-wheelers. It produces, designs, develops, markets, supplies, and supports sophisticated energy storage solutions for mobility and stationary storage applications, as well as providing after-sales service.
Co-Founder and CTO at Clean Electric Abhinav Roy said, “Our aim is to enable mankind’s shift from fossil fuels, and batteries have been the hardest part of this transformation. By providing dependable, safe, and performant Energy Storage Solutions, we believe we can add immense value to the EV and RE ecosystems.”
“India’s expectations of efficiency, performance and safety of batteries under diverse and extreme constraints ranging from terrain to climate will seed global innovation. Clean Electric’s direct liquid-cooled battery packs will become the benchmark, offering the highest safety while maximizing its life and efficiency,” said Ravinder Singh, Partner at Kalaari Capital.
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Content Credit: Mercom Clean Energy Insight
