PE-VC Fund Investments
Cygni Energy raises Rs.60-Cr from Meridian Global Ventures
Hyderabad-based energy storage startup Cygni Energy has raised INR 60 crore from existing investor Meridian Global Ventures. Following this allotment, Meridian Global Ventures' stake in Cygni Energy will increase to 49.23%.Founded in 2014 by Venkat Rajaraman, Cygni Energy is a battery technology startup that develops lithium-ion battery packs and energy storage solutions for electric mobility and renewable energy applications.The new funds will be used to support its expansion, including scaling its battery energy storage solutions and strengthening its presence in the clean energy ecosystem.
In Aug 2022, Cygni Energy had raised USD 12.5 Million from Meridian Global Ventures.For FY25, Cygni Energy had reported about INR 38 Cr in Operating Income and about INR 9 Cr in Net Loss.
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