e-TRNL Energy Raises INR 7.5 Cr in Pre-Seed Funding

Battery tech startup e-TRNL Energy has raised INR 7.5 crore led by Speciale Invest, a deep-tech venture capital firm. Other investors include Micelio Mobility, a clean mobility fund, and CIIE.

e-TRNL Energy will use the funds to ramp up the product cycle, reducing the time-lines required to deliver the products to its customers. The company has developed an advanced battery technology that is safe, and withstands the harsh conditions of electric mobility, especially in the Indian climate, with fast charging and cost-effectiveness.

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Apoorv Shaligram, co-founder of 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”.

According to a survey by Bain and Company, 35 to 40% of all vehicles sold in India by 2030 will be EVs, up from 2% penetration rate in 2022, according to a survey by Bain and Company by 2030, India will sell 12 million to 13 million new two-wheeler EVs and 1 million new four-wheeler PVs. The Indian EV market has seen $3.7 billion in private equity and venture capital investments in the last few years, with the numbers expected to increase.
the Indian EV Ecosystem’s value chain revenue pool is estimated to be in the range of $76 to $100 billion.

Founded in 2021, by two IITians, Apoorv Shaligram, an alumnus of IIT Roorkee and Michigan State University, and Dr. 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 per cent electric vehicles by 2030