Other Deals
Energy storage systems player VFlowTech raises $21-M led by Granite Asia
Singapore- and Kolkata-based VFlowTech , a provider of vanadium redox flow battery (VRFB) systems, has raised USD 20.5 million led by Granite Asia.The round also saw participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and existing investors Inci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First.The proceeds will be used to scale VFlowTech’s 100 MWh manufacturing plant in India to a Gigafactory and to deploy VRFB systems across microgrids, commercial and industrial energy users, and utility-scale projects.Founded in 2018 by Avishek Kumar, VFlowTech has deployed its VRFB systems in over 10 countries and is now in talks with Indian renewable energy developers to deploy up to 1 GWh of VRFB systems.
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