Neuron Energy Scores Rs 20 Cr Funding
Neuron Energy Charges Ahead with Rs 20 Crore Funding
Mumbai-based EV battery manufacturer Neuron Energy has raised Rs 20 crores in fresh funding as a part of its Series A round. This is massive for the company after its successful pre-Series A round, fended for the same amount.
This co-led funding round by Chona Family and Capri Global Family Office will accelerate Neuron Energy’s growth trajectory. The funds raised will be utilized toward strengthening the wing of research and development, including setting up a state of the art R&D lab in Pune. The funding will also be used for the construction of a new manufacturing facility in Delhi to increase production capacity.
With powerful lithium-ion and lead-acid smart batteries for electric two-wheelers and three-wheelers, the company has engaged in partnerships with principal players across the electric vehicle value chain. Its commitment to innovation and the ability to offer top-notch battery solutions have generated significant interest among investors.
Powering the Electric Revolution: Neuron Energy
Neuron Energy, founded by Pratk Kamdar in 2018, is regarded as one of the finest companies in the EV industry. It designs modern lithium-ion and lead-acid batteries for all kinds of electric vehicles, including bikes, rickshaws, and golf carts.
Neuron Energy has adopted a strategic approach that involves tie-ups with large-scale OEMs and smaller manufacturers who do not have in-house battery production facilities. This collaborative model ensures that their innovative solutions in batteries get maximum exposure.
Some of the notable clients are top industry stalwarts like Komaki, YC electric, E-Vishwa, EVTrick, 3ev, and 2.O, which are some of the leading battery solution suppliers in India’s EV market.
Neuron Energy’s Blueprint for EV Dominance
Neuron Energy shall lead the revolution in EV batteries. The Pune facility shall be a center of innovation, focusing on extended life of batteries, fast charging techniques, and advanced cooling systems.
The upcoming Delhi manufacturing plant aims to achieve an annual production of a respectable 100 MWh of batteries, largely meeting the demand from the two-wheeler segment. With this, Neuron Energy shall be at the forefront in the supply for electric two-wheelers, which are highly demanded in India.
Ambitious revenue targets of Rs 150-200 crore for the current fiscal would be churned out as Neuron Energy is geared up for rapid growth. It joins a dynamic landscape of EV battery startups, including Amara Raja Energy & Mobility, Altigreen Propulsion Labs, and Anchor Electricals, to shape the future of electric mobility.