Clean Electric, an energy storage solutions start-up, has raised $2.2M in a seed round led by Kalaari Capital, an early-stage venture capital firm based in Bengaluru. The round also saw participation from Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation.
Founded in 2020, Clean Electric has built liquid-cooled battery solutions for 2 Wheelers, 3 Wheelers, and Battery Swapping applications. Its proprietary battery technology seeks to address pressing safety & performance issues for EVs like battery fires, long charging times and frequent battery replacement.
“India’s EV solutions will become global postulates. The next decade is going to witness the surge of EVs, expected to grow from the current ~1.4M to ~50M by 2030. India’s expectations of efficiency, performance, and safety of batteries under diverse and extreme constraints ranging from terrain to climate will seed global innovation. Clean Electric’s direct liquid-cooled battery packs will become the benchmark, offering the highest safety while maximizing its life and efficiency. IITians Akash and Abhinav have invented zero kelvin packs which have the potential to meet the growing needs of today and the future.” said Ravinder Singh, Partner at Kalaari Capital.
With the funding, Clean Electric plans to set up a manufacturing facility in Pune to produce 5,000 battery packs per month.
Clean Electric also plans to use the funds towards expanding its R&D, sales, & operations teams, as well as for developing new products around Faster Charging, Renewable Energy Storage, and Battery Swapping.
As per a company statement, its products have been in pilot testing with multiple vehicle OEMs across the country, having undergone more than 30,000 Km of on-road testing. Compliant with AIS-156 Phase 2 guidelines (to be implemented from March 2023), the products are expected to be ready for certification tests before year-end.
“Clean Electric is delivering on the much-needed innovation in battery technology suitable for India. The patents the team has filed introduce direct liquid cooling technology wherein the cells of the battery are 100% in contact with a coolant which ensures maximum safety (fireproof), 25-minute charging, and a 1.5x longer life span. Their solutions can also be exported to several countries in the global south that are dealing with similar issues around EV safety and performance.” said Sumeet Singh, Partner at Climate Angels.
“Our aim is to enable Mankind’s shift from Fossil Fuels, and batteries have been the hardest part of this transformation. By providing dependable, safe, and performant Energy Storage Solutions, we believe we can add immense value to the EV and RE ecosystems,” said Abhinav Roy, Co-Founder and CTO at Clean Electric.
Subscribe today for free and stay on top of latest developments in EV domain.