Indi Energy Raises Undisclosed Funding From Mumbai Angels Network
- ByStartupStory | July 14, 2021
Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, has invested in Indi Energy, an energy storage startup aims in developing energy storage technologies such as solid-state batteries, supercapacitors, Lithium-ion batteries, Sodium-ion batteries, etc. as a part of its seed round. The funding amount hasn’t been disclosed yet. However, Indi Energy will be utilizing the funds in strengthening its R&D, and scaling up its proprietary Sodium-ion battery technology. Nandini Mansinghka, Co-founder and CEO, Mumbai Angels Network talking about the investment, “In today’s world that is almost entirely powered by technology and gadgets, there is increased awareness about climate change and waste generation, and sustainable energy production and waste utilization are the need of the hour. Indi Energy’s commitment to reducing reliance on scarce resources to build its proprietary Sodium-ion battery will be a revolutionary step in the energy storage space.”
With the help of scientists and engineers from IIT, Roorkee, Indi Energy envisions offers indigenously developed, affordable, safe, and high-performance battery technology for various applications including solar and wind grid storage, electric scooters and e-rickshaws, UPS batteries, SLI batteries, batteries for solar lights, and inverter batteries.Moreover, the company is currently working on its proprietary Sodium-ion batteries that will reduce India’s dependence on imported Lithium-ion batteries and the raw materials required by providing a sustainable alternative at affordable prices.
Akash Soni, Co-founder and CEO, Indi Energy said, “Indi Energy is on a mission to develop low-cost, safe, and high-performance sodium-ion batteries that are manufactured from agricultural waste and biowaste such as paddy straws and natural resources from the earth such as sodium, thereby reducing our dependence on scarce elements such as lithium, cobalt, and nickel which are essential components of Lithium-ion batteries.”
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