The IIT Roorkee-based start-up Indi Energy, specializing in energy storage and Sodium-ion batteries said it has raised $1.5 million in Pre-Series A round led by Big Capital.
Apart from Big Capital, existing Investor Mumbai Angels and a couple of HNI investors have also invested in this round.
This investment will enable the firm to accelerate Sodium Ion battery development. The firm said it would set up India’s first-ever indigenous Sodium Ion battery cell pilot plant which will produce proprietary rechargeable Sodium Ion cell batteries.
Nagesh Kumar, director, of Indi Energy said, “Our Hard Carbon technology made from agriculture/bio waste will not only create an environment free of dust and pollution but also present an opportunity for farmers to generate additional income from selling their agricultural/biowaste.”
Vu Quang Hoi, the chairman, of BIG Capital, said, “We continue to support innovative technologies that will power the world of the future. Indi Energy’s Sodium Ion battery is cheaper, safer to produce, and is a giant leap towards making the batteries more environment friendly through reduced reliance on rare earth.”
