EV smart battery manufacturer Neuron Energy has raised Rs 20 crore in their Pre-Series A Round. The investment was led by Equanimity Investments and the Rajiv Dadlani Group and also saw participation from Chona Family Office (Havmor Group) and Kayenne Ventures, along with reputed Family Offices and HNI investors.

The Company plans to use the funds primarily to support key initiatives, such as obtaining essential ICAT certifications and investing in mold development, along with strengthening the workforce by expanding the R&D team and hiring CXOs and senior management. 

In addition to this, the funding will fuel Neuron’s expansion of Li-Ion smart batteries for EV 2W’s and 3W’s while aiding in the brand’s venture into drone batteries.

The company is presently seeking to establish a strategic partnership, with an EV two-wheeler manufacturer, to establish a dedicated state-of-the-art facility.  

Commenting on the Fundraising, Pratik Kamdar, CEO & Co-Founder of Neuron Energy said, "This fundraising marks a crucial milestone in our company's growth journey. Our esteemed investors bring extensive expertise in scaling businesses and will play a pivotal role in guiding our expansion. The funds raised will not only enhance our manufacturing capabilities but also bolster our workforce across all levels. Neuron Energy is committed to serving a broader customer base with top-of-the-line, rigorously tested lithium-Ion smart battery packs, and this funding will undoubtedly propel us towards achieving that goal."

Rajesh Sehgal, Managing Partner of Equanimity Investments commented “The EV landscape in India is evolving and is expected to gain pace in the coming years, as India moves towards a well-planned holistic trajectory by making significant progress towards an electric future. This also makes battery manufacturing a huge opportunity, as it is at the heart of the energy ecosystem transition.  Our conviction in the founders' capabilities and the inherent robustness of the company, makes them well-positioned to contribute towards shaping the future of EVs in India.”