Clean Electric Secures $6 Million Funding To Accelerate EV Adoption

Clean Electric Secures $6 Million Funding To Accelerate EV Innovation

Clean Electric, an Indian developer specializing in rapid fast-charging battery technology for electric vehicles and long-life grid battery solutions, has raised $6 million in Series A funding. 

The funding round was co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, with participation from Lok Capital and other strategic investors. The investment is expected tol fuel Clean Electric’s mission to accelerate innovation in electric mobility and cutting-edge energy storage solutions.

Founded in 2016 by IIT-BHU graduates Akash Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric has been focusing on the development of advanced battery technologies designed for electric vehicles (EVs) and grid applications. 

Clean Electric claims to have developed proprietary rapid charging technology capable of fully charging electric vehicles in under 12 minutes, significantly outpacing existing standards that range from 40 minutes to over an hour.

The company claims its proprietary technology directly tackles these challenges by offering a safer, faster, and more durable battery solution, making EVs a more practical and appealing choice for consumers. “This proprietary charging algorithm has been honed over 0.5 Mn hours of battery testing over the last four years, enabling rapid charging times of just 10-12 minutes without compromising battery life.”

As per the company, their technology stack, which is both cell and chemistry agnostic, includes a patented Direct Contact Liquid Cooling (DCLC) system and an integrated cell-to-pack (CTP) architecture, ensuring enhanced safety by mitigating thermal runaway risks and boosting EV range.

Moreover, recently, Clean Electric demonstrated its 12-minute rapid charging capability on electric two- and three-wheelers in Pune, utilizing open network public charging stations (CCS 2, Bharat DC 001, and Type-6), while maintaining a battery life of over 3700 cycles.

Commenting on the funding Akash Gupta, Co-Founder and CEO of Clean Electric said “This investment is not just a financial boost; it is a validation of the groundbreaking work our team is doing to redefine what’s possible in EV technology.”

Pranav Koshal, Kalaari Capital said, “We are proud to have been the first backers of Akash, Abhinav and the clean electric team who have shown great passion and a commitment to innovate. Clean electric is emerging as a leader in efficient battery & energy storage systems which will be crucial to drive the growth of EVs and the transition to green energy.”

The newly raised funds will be directed towards expanding Clean Electric’s research and development, sales, and operations teams, as well as developing new products focused on faster charging and renewable energy storage, the statement reads.