Lithium-ion battery maker Log 9 Materials raises $2-M from Petronas Ventures

Bengaluru-based Log 9 Materials, a player in lithium-ion battery and fuel cell technologies, has raised USD 2 million in funding from Petronas Ventures, the venture capital arm of Malaysian oil and gas giant Petronas. Log 9 Materials will use the capital to launch and scale its fast-charging lithium-ion battery technology, which it claims can fully charge a two-wheeler EV in just 15 minutes. It will also invest in developing manufacturing capabilities for cells and battery packs. The investment brings to a close the company's USD 10 million Series A+ round, which was led by automotive battery maker Amara Raja Batteries along with participation from Exfinity Ventures and Sequoia Capital India's Surge Programme.