VC Fund Investments
EV battery maker Neuron Energy raises Rs.20-Cr from Equanimity, Rajiv Dadlani Group
Mumbai-based electric vehicle battery manufacturer Neuron Energy has raised INR 20 crore in a pre-Series A funding round led by Equanimity Investments and the Rajiv Dadlani Group. The round also saw participation from Chona Family Office (Havmor Group) and Kayenne Ventures, along with other family offices and high networth individuals. Neuron provides lithium-ion and lead-acid technology smart batteries for e-bikes, e-rickshaws, and golf carts. It has an export and domestic network to sell e-bike smart batteries. Its products are sold through multiple depots and distributors. Neuron plans to use the funds primarily to support key initiatives, such as obtaining essential ICAT Certifications and investing in mould development, along with strengthening the workforce by expanding the R&D team and hiring senior management. The funding will also fuel Neuron's expansion of Li-Ion smart batteries for EV two wheelers and three wheelers while aiding in the brand's venture into drone batteries.
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