EV battery manufacturer Neuron Energy has secured INR 31 Cr in its pre-Series B funding round led by Equanimity Ventures, with participation from Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, and reputed HNIs.

Proceeds from this round will be used to scale manufacturing capacity to 3 GWh, set up an automated facility for electric four-wheelers at Chakan near Pune, deepen research and development, and fuel domestic as well as international expansion.

The company is currently targeting a revenue of INR 200 Cr for the year, with future projections set at INR 900 Cr, as it aims to further its position in the rapidly growing Indian EV market.

Founded by CEO Pratik Kamdar, Neuron Energy offers a comprehensive range of electric mobility solutions, including lead-acid, advanced lithium-ion, and sodium-ion batteries.

Earlier focussed on two-wheeler EV batteries, Neuron is now expanding into batteries for four-wheelers and buses, emphasising high-quality, rigorously tested lithium-ion and next-gen sodium-ion solutions.

Neuron Energy last raisedINR 20 Cr (about $2.3 Mn) in its Series A funding round from existing investor Chona Family Office and Capri Global Family Office last year. Prior to that, it raisedINR 20 Cr in a pre-Series A round led by Equanimity Investments and the Rajiv Dadlani Group.

Including the Pre Series B round, Neuron Energy has raised INR 80 Cr till date.

The development comes at a time when EV and EV battery startups in India are seeing strong growth as the demand for cleaner mobility and energy-efficient transportation rises.

These companies are not just assembling vehicles but developing new solutions such as longer-lasting lithium-ion batteries, advanced battery management systems, battery swapping networks and charging infrastructure tailored for Indian conditions.

With government incentives, falling battery prices and increasing adoption of electric two- and three-wheelers, the ecosystem has become fertile for innovation. Investors are also backing the sector as both consumer demand and industrial applications expand.

EV major Ola Electric recently shifted its focus to battery manufacturing with rollouts of its own in-house 4680 “Bharat Cell” lithium ion batteries. The company is also eyeing to vertically integrate cell production to bring down its EV costs and reduce reliance on imports.

At the early stage too, startups are raising funds at a fast pace to capitalise on the gaps in India’s EV charging infrastructure. For instance, earlier today BatteryPool raised INR 8 Cr to scale its EV battery network.

Offgrid, which offers battery swapping solutions and charging infrastructure,raised $15 Mn in its Series A round in September. The likes of Xbattery and Delhi NCR-based battery swapping startup Battery Smart have also raised funds this year.

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