New Delhi: A battery tech startup, e-TRNL Energy, is raising a pre-seed round of INR 7.5 crore from multiple investors to further its mission of bringing revolutionary energy technology to the market.
The round was led by Speciale Invest, a deep-tech venture capital firm. Other investors include Micelio Mobility, a clean mobility fund, and CIIE, the innovation continuum built at IIM Ahmedabad.
e-TRNL Energy intends to utilize this investment to accelerate the product cycle reducing the time-lines to deliver the products to its customers. The company has developed advanced battery technology which is safe, withstands the harsh conditions of electric mobility especially in the Indian climate, and still provides value-add with fast charging and cost efficiency, the company said in a media release.
Founded in 2021, by two IITians, Apoorv Shaligram, an alumnus of IIT Roorkee, and Michigan State University, and Uttam Kumar Sen, an IIT Bombay alumnus with a doctorate in high energy density batteries, e-TRNL Energy draws upon a combined research experience of 27 years to bring about this pioneering battery technology. The mission of e-TRNL Energy supports the larger cause of India’s target of transitioning to 100% electric vehicles by 2030, the release said.
Apoorv Shaligram, co-founder, e-TRNL Energy, said “Any true electric vehicle revolution cannot revolve around import dependence in the most critical component of EVs, which is the battery. At e-TRNL Energy, we are innovating technology from the ground up to realize the true potential of batteries and bring about the most advanced cell manufacturing. We are excited to have partnered with our investors to realize the future of batteries and help set up the global supply chains from India.”
“We have developed a technology platform that solves the fundamental challenges of fast charging without compromising the energy density, life cycle and safety. Our innovation is chemistry and application agnostic, which means it could be deployed across all battery applications.”, Uttam Kumar Sen, co-founder, e-TRNL Energy, said.
Vishesh Rajaram, Managing Partner, Speciale Invest, said, “The need for smart energy storage systems is critical to meet global climate goals and provide a better and more sustainable future. e-TRNL is working towards bringing to the market one of the most advanced energy storage systems. The company’s innovative technology helps to reduce the environmental impact of battery storage while providing an advanced level of performance and reliability.”
“We at Speciale Invest believe that climate and sustainability are increasingly becoming business drivers in India as well as globally. We are focused on partnering with like-minded businesses and founders using technology to disrupt this sector. We are excited to be a part of e-TRNL journey and look forward to seeing them succeed,” he added.
Shreyas Shibulal, founder and CEO, Micelio Mobility, said, ‘Our goal is to create a supportive ecosystem for clean mobility that fosters innovation at scale. We are delighted to back the team at e-TRNL in their innovation at the cell technology that is chemistry agnostic as this is much needed keeping the clean mobility sector growth in our country”
“Having closely followed the sustainability space and looking at the value chain in energy storage for a few years now, we do believe that e-TRNL is one of the most innovative and disruptive technologies attempting to solve a critical problem of battery storage, safety and performance. Given the advent of India being enroute an electron economy we see a big opportunity for the team to capture the market with its research first approach,” Chintan Antani, VP – Investments at CIIE.CO, said.
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