Neuron Energy Secures Rs. 20 Cr In Series A Funding

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Neuron Energy today concluded its Series A funding round, raising Rs. 20 Crores from investors, including contributions from the Chona Family, a venture capital firm, and Capri Global Family Office, a Non-Banking Financial Company (NBFC).

Neuron Energy is an electric vehicle (EV) battery manufacturer that offers various electric mobility solutions that span from lead-acid to advanced lithium-ion and sodium-ion technologies, covering a wide array of applications beyond traditional vehicles.

These funds can help the company enhance Neuron Energy’s research and development capabilities, including the establishment of a research and development (R&D) laboratory in Pune. This facility will focus on enhancing battery life, reducing charging duration, and developing efficient cooling packs. Additionally, the investment will accelerate the company’s manufacturing capacity by setting up a new 40,000 sq. ft. production facility in Delhi, which is expected to produce 100 MWh of batteries annually, specifically for two-wheelers. This expansion aims to meet the growing demand for high-performance EV batteries both domestically and globally, as Neuron Energy aims to clock INR 150-200 crore in revenue in the current fiscal year.

Pratik Kamdar, Chief Executive Officer (CEO) and Co-Founder of Neuron Energy highlighted the strategic significance of this funding round: “We are pleased to secure this Series A funding, which reflects investor confidence in Neuron Energy’s profitable business model and growth potential. These investments will drive our innovation efforts in EV battery technology and support our goal of achieving a revenue of INR 300 crores by FY 25-26. We remain committed to advancing sustainable energy solutions and contributing to India’s evolving EV landscape.”

Nirali Solani, Director of Chona Family Office, “We are thrilled to support Neuron Energy in their mission to revolutionise the electric vehicle battery industry. Their commitment to innovation, sustainability, and excellence aligns perfectly with our values. By investing in Neuron Energy, we are contributing to a future where clean energy solutions are accessible and impactful. We believe in the transformative potential of Neuron Energy’s technology and are confident that this partnership will drive significant advancements in the EV sector in India.”

Neuron Energy continues to lead the charge in advancing clean energy technologies, driven by a steadfast commitment to innovation and sustainability. The company was the first to develop and utilize smart battery management systems, underscoring its dedication to delivering superior-quality products.