e-TRNL Energy, a promising startup in the battery technology sector, has successfully secured ₹27.4 Cr (approximately $3 million) in its seed funding round, which was led by IAN Alpha Fund. This round also saw participation from notable investors including Navam Capital, Anicut Capital, and Ather Energy co-founders Tarun Mehta and Swapnil Jain, alongside existing backers such as Speciale Invest, Micelio Mobility, and IIMA Ventures.
Founded in 2021 by Apoorv Shaligram and Uttam Kumar Sen, e-TRNL Energy is pioneering a novel battery cell technology that claims to be chemistry agnostic, making it adaptable to both current lithium-ion and future sodium-ion chemistries. The startup’s innovative approach aims to enhance battery safety, fast-charging capabilities, cycle life, and energy density, all while ensuring scalability and reliability in manufacturing processes.
The newly acquired funding will be instrumental in completing the product development phase and demonstrating the manufacturing capability for lithium-ion battery cells at scale within India. The co-founder and CEO, Apoorv Shaligram, emphasized that the funds will help in advancing demonstrations, testing, and scaling their innovations towards commercial production. This initiative not only aims to position India as a leader in energy storage innovation but also seeks to enhance resilience against vulnerabilities in global supply chains during these transformative times.
e-TRNL Energy plans to initiate commercial manufacturing with a pilot capacity of 250 MWh annually, with aspirations to scale production up to 2 GWh per year. The startup had previously raised around ₹7.5 Cr (approximately $900,000) in a pre-seed funding round in 2022, which further supports its journey towards transformation in the battery manufacturing landscape.
This surge of investment aligns with the rising demand for batteries fueled by the increasing adoption of electric vehicles (EVs) in India, a market projected to reach a staggering $132 billion by 2030. Many startups within this field are focused on developing battery technologies that are not only more efficient but also better suited for Indian conditions, underscoring the immense potential for growth in India’s clean mobility solutions market.
e-TRNL Energy is well-positioned to contribute to this expanding landscape, reflecting the optimism and commitment investors have towards fostering innovations in energy storage technologies in the country.