Battery mgmt platform ION Energy raises $3.6-M from Amazon fund, others

Mumbai-based energy-tech startup ION Energy has raised USD 3.6 million in a pre-Series A funding round led by Amazon's Climate Pledge Fund, with participation from Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital, Venture Catalysts and other angel investors. ION will use the funds to grow its team to over 125 from 70 at present, for product development and expanding its software business in North America and Europe. ION builds advanced electronics and software platforms for new energy enterprises. Its flagship offering is a smart battery management platform (BMS) that leverages proprietary algorithms to improve battery life and performance. The startup raised USD 1.2 million in 2018.