Deeptech battery startup Log9 Materials raises $40M  - Check out in Detail

Arrow

Deeptech battery startup Log9 Materials has raised $40 million in co-operation with Amar Raja Batteries

Arrow

This startup funding includes participation from Incred Financial Services, Unity Small Finance Bank, Oxyzo Financial Services, and Western Capital Advisors. 

Arrow

The startup plans to use the raised capital to expand its battery manufacturing capabilities to a 2 GWh capacity by 2024 

Arrow

It also plans to invest over Rs 100 crore towards advancements in cell and battery technology stacks. 

Arrow

Log9 is an indigenous deeptech and advanced battery-tech startup that offers fast-charging batteries 

Arrow

Akshay Singhal who is part of this funding thinks that investing in these types of deals will provide more opportunities in EV Categories

Arrow

Vikramaditya Gourineni, Executive Director, Amara Raja Batteries, said, Log9’s progress in the field is significant in meeting India’s growing aspirations in the energy and mobility space. 

Arrow

Hope you people found the story informative. For more such interesting stuff, click on the link given below

Arrow
/