Neuron Energy, a prominent player in the electric vehicle (EV) battery manufacturing sector, has successfully concluded its Series A funding round, raising ₹20 crores from prominent investors, including the Chona Family and Capri Global Family Office.
The newly acquired funds will bolster Neuron Energy’s research and development capabilities and support the establishment of a state-of-the-art R&D laboratory in Pune. This facility will focus on key advancements in battery technology, including improving battery life, reducing charging times, and developing efficient cooling systems.
In addition to R&D investments, the funding will be used to expand the company’s manufacturing capacity. Neuron Energy plans to build a new 40,000 sq. ft. production facility in Delhi, aimed at producing 100 MWh of batteries annually for two-wheelers. This expansion is designed to meet the increasing demand for high-performance EV batteries both in India and internationally. The company targets a revenue range of ₹150-200 crores for the current fiscal year.
Mr. Pratik Kamdar, CEO and Co-Founder of Neuron Energy, emphasized the importance of the funding round: “Securing this Series A funding is a testament to the confidence investors have in Neuron Energy’s business model and growth trajectory. The investment will propel our innovation in EV battery technology and help us reach our revenue goal of ₹300 crores by FY 25-26. We are committed to advancing sustainable energy solutions and enhancing India’s EV sector.”
Nirali Solani, Director at Chona Family Office, expressed enthusiasm about the investment: “We are excited to support Neuron Energy in their mission to transform the electric vehicle battery industry. Their focus on innovation and sustainability aligns with our values. By investing in Neuron Energy, we are contributing to the advancement of clean energy solutions and believe their technology will significantly impact the EV sector in India.”
Neuron Energy continues to lead the way in clean energy technologies with a strong commitment to innovation. The company is known for being the first to develop and deploy smart battery management systems, underscoring its dedication to high-quality, sustainable products.
