Neuron Energy Secures INR 20 Cr in Series A Round to Advance EV Battery Manufacturing The Mumbai-based platform aims to deploy the funds raised to strengthen its capacity for research and development. This will include the creation of a state-of-the-art laboratory for research and development in Pune and a manufacturing facility in Delhi.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Electric vehicle battery manufacturer Neuron Energy has announced the raising of INR 20 crore in a Series A round from Chona Family and Capri Global Family Office.
As per the official release, the raised funding will strengthen its capacity for research and development. This will include the creation of a state-of-the-art laboratory for research and development in Pune and a manufacturing facility in Delhi.
Pratik Kamdar, CEO and Co-founder of Neuron Energy, said, "We are pleased to secure this Series A funding, which reflects investor confidence in Neuron Energy's profitable business model and growth potential. These investments will drive our innovation efforts in EV battery technology and support our goal of achieving a revenue of INR 300 crores by FY 25–26. We remain committed to advancing sustainable energy solutions and contributing to India's evolving EV landscape."
Founded in 2018 by Pratk Kamdar, Neuron Energy offers smart batteries with lead-acid and lithium-ion technology for golf carts, rickshaws, and bicycles.
The Mumbai-based platform provides batteries to small and medium-sized manufacturers who do not produce their own batteries in collaboration with original equipment manufacturers (OEMs).
It claims to work with companies including Komaki, YC electric, E-Vishwa, EVTrick, 3ev, & 2.O.
According to Neuron Energy, its Pune facility will focus on enhancing battery life, reducing charging duration, and developing efficient cooling packs. The platform's Delhi set-up is expected to produce 100 MWh of batteries annually, specifically for two-wheelers. The company aims to clock INR 150–200 crore in revenue in the current fiscal year.
Nirali Solani, Director Chona Family Office, added, "By investing in Neuron Energy, we are contributing to a future where clean energy solutions are accessible and impactful. We believe in the transformative potential of Neuron Energy's technology and are confident that this partnership will drive significant advancements in the EV sector in India."
