EV Battery Startup Gegadyne Energy Welcomes $5 Mn Investment from V-Guard

EV battery provider Gegadyne Energy Labs has announced that it has received an investment of USD 5M from electric appliance maker, V-Guard.

Mumbai based, quick electric vehicle (EVs) battery provider Gegadyne Energy Labs Pvt Ltd announced receiving an investment of USD 5 million from electric appliance maker, V-Guard.

The CEO and Founder of Gegadyne Jubin Verghese, yesterday posted a tweet that reads, “Excited to share @GegadyneEnergy has raised 5 million USD from @VGuardOfficial as part of our Series A round of investment.”

Excited to share @GegadyneEnergy has raised ~5M USD from @VGuardOfficial as part of our Series A round of Investment.

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— Jubin Varghese (@The_Jubin) January 15, 2021

Gegadyne Energy has developed and pioneered the Quick Charging Battery Technology through a Portfolio of International Patents. Gegadyne Energy’s battery consists of unique proprietary Nano-material composites and advance battery architectures to enable quick charging batteries with high energy density similar to lithium-ion batteries.

As the company says, the EVs of the future will not only be defined by the size of the battery pack but also by the battery technology that it uses. Gegadyne claims it has built a technology that allows batteries to charge from zero to 100 percent in around 15 minutes.

Gegadyne’s battery composites are efficiently developed to enable batteries with better storage capacity and higher cycle life as it consists of drop-in technology which generates consistent energy output and optimal capacity maintenance. The material has a high energy density, is very stable under constant cycling, and features very high power capacities.

Their materials are synthesized via simple, inexpensive, and environmentally-friendly processes, which can easily be scaled for EV, industrial storage, or consumer electronic battery production.

On the other hand, V-Guard Industries, which was founded in 1997, manufactures electrical appliances. Its products include voltage stabilizers, water heaters, UPS (uninterruptible power source), kitchen appliances and pumps. Now invested USD 5M (36.5 crores) in an EV battery manufacturing startup.

Expressing his thought on receiving the investment, Jubin Verghese stated, “We are elated to have V-Guard Industries as an Investor on our mission to build the next generation of battery technology that will revolutionize the field of energy storage and catapult India to be self-reliant in advance battery chemistry.”

“This will help for better utilization of capital for all high-value work. It’s still early days for the scale that we wish to grow to. We have tens of thousands more to go to cover the world with our technology, for it to be in every battery pack sold across the globe,” he added.