Battery technology startup e-TRNL Energy Datalabs has raised INR 27.4 crore (around $3 million) in a seed funding round. The round was led by IAN Alpha Fund, with participation from Navam Capital and Anicut Capital.
The round also included investments from Tarun Mehta and Swapnil Jain, along with existing investors Speciale Invest, Micelio Mobility, and IIMA Ventures.
The company said it will use the funds to complete product development and prove its ability to manufacture lithium-ion battery cells at large scale in India.
“With this funding round, we move towards demonstration, testing and scaling our innovation for commercialisation. Beyond positioning India as a leader in energy storage innovations, these efforts will also strengthen our resilience against global supply chain vulnerabilities in these changing times,” e-TRNL Energy cofounder and CEO Shaligram said.
e-TRNL Energy Datalabs plans to start commercial production in a pilot phase with a capacity of 250 MWh per year. Later, the company aims to expand production to 2 GWh per year.
In 2022, the startup raised around ₹7.5 crore in a pre-seed funding round from Speciale Invest, Micelio Mobility, and CIIE.
The company was founded in 2021 by Apoorv Shaligram and Uttam Kumar Sen with the goal of building advanced battery technology in India.
e-TRNL Energy is developing battery cell technology that can work with different types of battery chemistries. It supports current lithium-ion (Li-ion) batteries and can also adapt to future sodium-ion (Na-ion) batteries.
Read More- Tower Capital Asia Invests in V-Key to Strengthen Digital Identity and Mobile Security
