Innovation battery tech startup Clean Electric raises $2.2 million in seed funding led by Kalaari Capital

• ByStartupStory     |    November 22, 2022

Clean Electric, an innovative 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.

Intense safety and performance problems for EVs like battery fires, protracted charging times, and frequent battery replacement are addressed by Clean Electric’s proprietary battery technology. Clean Electric intends to establish a manufacturing facility in Pune with the money it has received to produce 5,000 battery packs each month.

Established in 2020, Clean Electric produces advanced energy storage solutions for mobile and stationary storage applications, as well as related energy infrastructure and services. It also designs, develops, markets, delivers and offers after-sales support. For applications involving 2-wheelers, 3-wheelers, and battery swapping, the business has created liquid-cooled battery systems. The company’s products have been put through more than 30,000 kilometres of on-road testing and are currently undergoing pilot testing with several vehicle OEMs around the nation. The products are anticipated to be prepared for certification tests before year’s end and compliant with AIS-156 Phase 2 guidelines (to be implemented beginning in March 2023). The money will also be used by Clean Electric to grow its R&D, sales, and operations teams and to create new products for faster charging, renewable energy storage, and battery swapping. EV penetration is under 2% overall. India needs reliable electric vehicles and reliable charging infrastructure to make the transition to an all-electric future. Inconvenient charging times for current EVs and variable battery life make it challenging for NBFCs and banks to finance these cars. Additionally, numerous reputable EV OEMs’ vehicles catching fire & resulting in fatalities have weakened customer confidence and raised worries about their safety. “Our goal is to facilitate humanity’s transition away from fossil fuels, and batteries have proven to be the most challenging aspect of this change. We believe we can significantly improve the EV and RE ecosystems by offering dependable, secure, and effective Energy Storage Solutions, said Abhinav Roy, Co-Founder and CTO at Clean Electric.

“Clean Electric is providing India with the much-needed advancement in battery technology. The team’s patent applications present direct liquid cooling technology, in which the battery cells are completely in contact with a coolant to ensure maximum safety (fireproof), 25-minute charging, and a 1.5x longer lifespan. Their solutions can also be exported to a number of developing nations that face comparable problems with EV performance and safety, according to Climate Angels Partner Sumeet Singh.

“India’s EV solutions will influence the world. The number of electric vehicles is predicted to skyrocket in the coming decade, rising from the current 1.4M to 50M by 2030. India’s expectations for battery efficiency, performance, and safety under a variety of severe conditions, such as terrain and climate, will spur global innovation. The direct liquid-cooled battery packs from Clean Electric will set the standard by providing the highest level of safety while extending their life and efficiency. Zero kelvin packs were created by IIT graduates Akash and Abhinav, and they have the potential to satisfy today’s and tomorrow’s expanding needs, according to Ravinder Singh, Partner at Kalaari Capital.

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