Neuron Energy announces INR 31 crore funding in Pre-Series B round

Neuron Energy, a startup focused on electric vehicle batteries, has raised INR 31 crore in a Pre-Series B funding round. The funding round included participation from Equanimity Investments, Rajiv Dadlani, Thackersey Group, and the Chona Family Office. The company stated that the funds will support its plans to scale battery manufacturing capabilities.

Neuron Energy said the capital will be used to develop a 3 GWh manufacturing capacity and set up an automated battery facility for four-wheelers and e-buses in Chakan, Pune. The company also plans to use the funds to strengthen research and development and reliability engineering, and to expand its presence in domestic and international markets.

Neuron Energy expects to close the current financial year with revenue of INR 200 crore and is targeting more than INR 900 crore in sales over the next few years. With the latest funding round, the Mumbai-based company has raised a total of INR 80 crore.

Also read: Neuron Energy secures INR 20 crores in Series A funding round