Private Equity

Angel Investments

Bio-degradable EV-battery maker Nexus Power raises funding from JITO Angel Network

Financial Express  

JITO Angel Network, a global community-based angel network, has invested in Bhubaneswar–based electric vehicle (EV) battery manufacturer Nexus Power. Nexus Power makes rechargeable, bio-organic, and biodegradable batteries from crop residue. The company claims to use fully bio-degradable materials that could be turned into manure after the life cycle is complete to formulate the composition of the battery. With its proprietary Peptide Crystal batteries, the company aims to reduce on exhaustible resources like Lithium, Nickel, and Cobalt. This is the fifth company in the EV space that JITO Angel Network has invested in.