Clean Electric Secures ₹48.5 Crore in Series A Funding

In a significant stride towards bolstering sustainable energy solutions, Clean Electric, a pioneering startup in the energy storage sector, has successfully raised ₹48.5 crore (approximately $6 million) in its Series A funding round. This latest capital infusion underscores the rising confidence among investors in Clean Electric’s cutting-edge technology and its potential to transform the energy landscape in India.

Investor Confidence and Strategic Partnerships

The Series A funding round was co-led by prominent investors Info Edge and Pi Ventures, each contributing ₹14.16 crore. Kalaari Capital, a long-standing backer of Clean Electric, reaffirmed its commitment by adding ₹14 crore to the round. The investment also saw participation from notable angel investors, including Pankaj Chaddah, Amit Kumar, Rama Advisors, and Lok Capital, collectively contributing ₹6.18 crore.

This round marks Clean Electric’s second major funding within the past 20 months, bringing the total capital raised to nearly $9 million. In 2022, the startup secured $2.2 million in seed funding from Climate Angels and Kalaari Capital, laying a solid foundation for its growth trajectory.

Strategic Utilization of Funds

Clean Electric plans to channel the new funds into key areas that will drive its growth and market presence. The capital will be used to meet working capital requirements, support expansion initiatives, and invest in capital expenditures. Additionally, the funding will be utilized for general corporate purposes, ensuring that the company is well-positioned to scale its operations and maintain its leadership in the energy storage sector.

Driving Sustainable Innovation in Energy Storage

Founded in 2016 by Akash Gupta and Abhinav Roy, Clean Electric has carved out a niche in the market by developing advanced liquid-cooled battery solutions tailored for two-wheelers, three-wheelers, and battery-swapping systems. The startup’s innovations are crucial in the push towards eco-friendly transportation and energy-efficient designs, directly contributing to India’s efforts to reduce carbon emissions and transition to a greener economy.

Clean Electric’s commitment to sustainability extends beyond technology. The company plays a pivotal role in advancing India’s green energy goals, creating jobs, and fostering technological advancements in the rapidly evolving clean energy sector. As India continues to embrace electric vehicles (EVs) and renewable energy, Clean Electric’s contributions are set to be instrumental in shaping a sustainable future.

About Clean Electric

Headquartered in India, Clean Electric is a trailblazer in the energy storage industry, known for its innovative battery technology that promises faster charging, enhanced safety, and longer-lasting performance. The startup’s focus on developing solutions that meet the rigorous demands of the EV market and energy infrastructure has positioned it as a leader in the sector, driving the adoption of cleaner and more efficient energy systems.