EV Battery Startup Neuron Energy Scores Rs 20 Cr in Series-A Round

In a Series A fundraising round headed by the Chona Family and Capri Global Family Office, Mumbai-based EV battery manufacturer Neuron Energy has once again raised Rs 20 crore.

Equanimity led a pre-Series A fundraising round in July of last year, during which the business raised Rs 20 crore.

Neuron Energy’s CEO and co-founder, Pratik Kamdar, stated, “We are happy to have secured this Series A funding, which indicates investor confidence in Neuron Energy’s successful business model and development potential. Our aim of reaching a turnover of Rs 300 crores by FY 25–26 would be supported by these investments, which will propel our innovation efforts in EV battery technology. We are still dedicated to developing sustainable energy solutions and helping India’s EV market to change.”

“We are excited to work with Neuron Energy to transform the electric vehicle battery market. Their dedication to quality, creativity, and sustainability is a wonderful fit with our principles. We are fostering a future in which sustainable energy solutions are impactful and widely available by investing in Neuron Energy. “We are convinced that this collaboration will lead to noteworthy progress in the electric vehicle industry in India, given our faith in the revolutionary qualities of Neuron Energy’s technology,” stated Nirali Solani, Director at Chona Family Office.

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Neuron Energy intends to utilize this additional funding to further its capabilities in research and development. In Pune, the business will also open a cutting-edge research and development facility.

The lab will concentrate on creating effective cooling systems, extending battery life, and cutting down on charging time.

A 40,000 sq ft production plant in Delhi, India, will be established by Neuron Energy with the aim of producing 100 megawatt hours of batteries each year, mostly for two-wheelers.

The expansion aims to address the increasing demand in the domestic and international markets for high-performance EV batteries.

Neuron Energy is a company founded in 2018 by Pratk Kamdar that provides smart batteries for bikes, rickshaws, and golf carts using lithium-ion and lead-acid technologies.

Battery suppliers to small and medium-sized enterprises are provided by the startup in collaboration with original equipment manufacturers (OEMs).

Neuron Energy is committed to innovation and sustainability as it advances clean energy technologies. The company’s commitment to producing high-quality products was evident when it was the first to design and apply smart battery management technologies.