EV battery maker Grinntech raises $2-M bridge round

Chennai-based Grinntech, a startup that specialises in lithium-ion batteries for EVs and energy storage systems, has closed a bridge funding round of about USD 2 million, which was fully subscribed by the existing investors. Founded in 2013 by Nikhilesh Mishra and Puneet Jain, the IIT-Madras incubated startup is working on technologies that can enable fast adoption of EVs. Grinntech has launched the new Finch and Monal series of batteries and the order to develop a larger pack, incorporating advanced thermal management and utilising its proprietary battery management system for a US-based OEM.