Indi Energy receives seed fund from Mumbai Angels
16 Jul 2021
2 Min Read
CW Team
Energy storage start-up, Indi Energy has raised seed fund from Mumbai Angels Network, a start-up investment platform for early-stage venture investment.
The funding will be used to improve its research and development activities and scale up its proprietary sodium-ion battery technology, said Indi Energy.
The start-up company claims to have achieved a breakthrough in sodium-ion batteries, with its energy density three to four times higher than commercialised lead-acid batteries. A patent is filed for its sodium-ion batteries by the company.
The negative electrode of the sodium-ion battery is formed from materials like cattle manure and paddy straw, which would further resolve the issue of burning rice or paddy straws and convert them into a valuable energy source.
The company intends to produce energy storage technologies such as lithium-ion and sodium-ion batteries, supercapacitors, and solid-state batteries. It also envisions producing high-performance battery technology for various applications.
Co-Founder and Chief Executive Officer (CEO) of Indi Energy, Akash Soni, told the media that the company鈥檚 goal is to produce low-cost, safe, and high-performance sodium-ion batteries manufactured from agricultural waste and bio waste from the earth. Further, reducing the company's dependence on scarce elements such as lithium, cobalt, and nickel.
Co-Founder and CEO, Mumbai Angels Network, Nandini Mansinghka, told the media that this funding will help Indi Energy to improve its operations and ramp up infrastructure to stimulate growth.
Also read: ION Energy raises $3.6 million from Amazon's Climate Pledge Fund
Energy storage start-up, Indi Energy has raised seed fund from Mumbai Angels Network, a start-up investment platform for early-stage venture investment.
The funding will be used to improve its research and development activities and scale up its proprietary sodium-ion battery technology, said Indi Energy.
The start-up company claims to have achieved a breakthrough in sodium-ion batteries, with its energy density three to four times higher than commercialised lead-acid batteries. A patent is filed for its sodium-ion batteries by the company.
The negative electrode of the sodium-ion battery is formed from materials like cattle manure and paddy straw, which would further resolve the issue of burning rice or paddy straws and convert them into a valuable energy source.
The company intends to produce energy storage technologies such as lithium-ion and sodium-ion batteries, supercapacitors, and solid-state batteries. It also envisions producing high-performance battery technology for various applications.
Co-Founder and Chief Executive Officer (CEO) of Indi Energy, Akash Soni, told the media that the company鈥檚 goal is to produce low-cost, safe, and high-performance sodium-ion batteries manufactured from agricultural waste and bio waste from the earth. Further, reducing the company's dependence on scarce elements such as lithium, cobalt, and nickel.
Co-Founder and CEO, Mumbai Angels Network, Nandini Mansinghka, told the media that this funding will help Indi Energy to improve its operations and ramp up infrastructure to stimulate growth.
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Also read: ION Energy raises $3.6 million from Amazon's Climate Pledge Fund
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