EV battery manufacturer Neuron Energy has raised INR 20 crore in their Pre-Series A Round. The investment was led by Equanimity Investments and the Rajiv Dadlani Group and also saw participation from Chona Family Office (Havmor Group) and Kayenne Ventures.
The company plans to use the funds primarily to support key initiatives, such as obtaining essential ICAT Certifications, investing in mould development, and strengthening the workforce by expanding the R&D team and hiring CXO’s and senior management.
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Furthermore, the funding will fuel the company's expansion of Li-Ion smart batteries for EV 2W’s and 3W’s while aiding the brand’s venture into drone batteries. Its branded products are sold through its extensive pan-India network of multiple depots and distributors. Neuron Energy has also increased its export footprint to the Middle East, Europe, and South-East Asia.
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.”