Info Edge Ventures, Pi Ventures, and Kalaari Capital Co-Lead USD 6 Mn Investment in Clean Electric The new capital will be used to bolster research and development, expand the sales and operations teams, and develop new products.
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Clean Electric, an energy storage solutions startup, has raised USD 6 million in a funding round co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital. Lok Capital and other investors also joined the round.
Info Edge, Pi Ventures, and Kalaari Capital each contributed INR 14.5 crore, while impact investment firm Lok Capital invested INR 5 crore.
This marks a significant milestone for Clean Electric, bringing its total funding to approximately USD 9 million. The company previously secured USD 2.2 million in a seed round in 2022, led by Climate Angels and Kalaari Capital.
The new capital will be used to bolster research and development, expand the sales and operations teams, and develop new products.
Founded in 2020 by Akash Gupta and Abhinav Roy, Clean Electric is focused on creating advanced liquid-cooled battery solutions for two- and three-wheelers, as well as battery swapping and energy storage infrastructure.
The Pune-based company plans to introduce battery packs for four-wheelers in the first quarter of 2025 and for heavy electric vehicles later that year.
Clean Electric has already made notable strides in the electric mobility sector. Its two-wheeler batteries can be charged within 12–15 minutes, while its three-wheeler batteries take 20–25 minutes.
The startup is currently collaborating with 12 electric vehicle OEMs and plans to extend its technology to electric four-wheelers and commercial vehicles.
"We have already announced our collaboration with Bounce Infinity and Omega Seiki Mobility, and as we go forward, there are several OEMs with which we are in advanced stages of discussions—to be specific, about the start of production with different electric vehicle OEMs," Gupta said.
By the end of this year, Clean Electric aims to significantly increase its manufacturing capacity from its current 20 megawatt hours (MWh) to between 150-200 MWh annually. Gupta acknowledged that the company's products come at a 10-20% premium compared to competitors, but he expects this gap to close as production scales. "As we scale, the gap will keep on reducing," he explained.
Chinmaya Sharma, Partner at Info Edge Ventures, noted, "Our thesis is that there still remain pivotal unsolved parts in the value chain of electric mobility, both passenger and commercial. Reliable batteries that can be charged quickly without decline in cycles and range is a key example. Clean Electric's current suite of products and technical prowess make them a key contender to solve this at a national, possibly global scale. We are excited to support and serve them."
