VC Fund Investments
Battery-tech startup Log 9 Materials raises Rs.91-Cr led by Petronas Ventures
Bengaluru-based battery-tech startup Log 9 Materials has raised INR 91.25 crore in a Series B round led by Petronas Ventures (via PTV International Ventures). SiriusOne Capital, Cornerstone Ventures, Anicut Capital, and others. PTV International Ventures invested INR 83.33 crore while SiriusOne infused INR 2.90 crore, Kube Opportunities' LO Fund INR 1.83 crore, and Cornerstone Ventures INR 2.04 crore. The rest of the sum was invested by Anicut Capital, IIT-Madras RTBI, and Veera Lokesh Ayireddy. Log9 Materials offers fast-charging batteries that the startup claims last longer and offer higher performance and safety. Last year, the startup raised INR 77 crore in Series B fundraise from Amara Raja Batteries.
From the Venture Intelligence PE-VC Deal Database: Between May-2017 and Oct-2021, Log 9 had raised about USD 17 M from Petronas Ventures, Sequoia Capital India, Exfinity Fund, AC Ventures, GEMS Partners and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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