Neuron Energy Raises INR 200 Million Pre-Series A Round Funding

In addition to the funding, Neuron Energy actively seeks to establish a strategic partnership, with a leading EV two-wheeler manufacturer, to establish a dedicated state-of-the-art facility.

July 12, 2023. By Anurima Mondal

EV smart battery manufacturer Neuron Energy has successfully raised INR 200 million in their Pre-Series A Round. The investment led by Equanimity Investments and the Rajiv Dadlani Group saw participation of Chona Family Office, Kayenne Ventures and other investors.

The company plans to use the funds primarily to support key initiatives, such as obtaining essential ICAT Certifications and investing in mould development, along with strengthening the workforce by expanding the R&D team and hiring CXO’s and senior management.

Furthermore, the funding will fuel Neuron’s expansion of Li-Ion smart batteries for EV 2W’s and 3W’s while aiding in the brand’s venture into drone batteries.

Commenting on it, Pratik Kamdar, CEO & Co-Founder, Neuron Energy said, "This fundraise marks a crucial milestone in our company's growth journey. Our esteemed investors bring extensive expertise in scaling businesses and will play a pivotal role in guiding our expansion. The funds raised will not only enhance our manufacturing capabilities but also bolster our workforce across all levels. Neuron Energy is committed to serving a broader customer base with top-of-the-line, rigorously tested lithium-Ion smart battery packs, and this funding will undoubtedly propel us towards achieving that goal."

Rajesh Sehgal, Managing Partner of Equanimity Investments commented, “The EV landscape in India is evolving and is expected to gain pace in the coming years, as India moves towards a well-planned holistic trajectory by making significant progress towards an electric future. This also makes battery manufacturing a huge opportunity, as it is at the heart of the energy ecosystem transition.”

Rajiv Dadlani, from the Rajiv Dadlani Group, added "As long-term growth investors, we recognise the enormous opportunity of the EV industry. Neuron Energy demonstrates remarkable potential to become the market leader with their exceptional efficiency in delivering top-quality products."

In addition to the funding, Neuron Energy actively seeks to establish a strategic partnership, with a leading EV two-wheeler manufacturer, to establish a dedicated state-of-the-art facility.

Tags:

Sustainable Transport

Neuron Energy

Pre-Series A Round Funding

Electric Vehicle components

lithium-ion battery

Electric vehicle in India

Electric vehicle market

Equanimity Investments

Rajiv Dadlani Group