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A seed round headed by Climate Angels and the Bengaluru-based venture capital firm Kalaari Capital nets Clean Electric, a startup offering energy storage solutions, $2.2 million. Along with LV Fund, 7 Square Ventures, and CIIE Regional Innovation Foundation, other investors in the round included them.
Expanding its R&D, sales, and operations teams, Clean Electric intends to use the funds to establish a manufacturing plant in Pune that will be able to produce 5,000 battery packs each month. According to a press statement, the company will also create new solutions related to quicker charging, renewable energy storage, and battery switching.
Bhopal-based Clean Electric Private Limited was founded by Akash Gupta and Abhinav Roy in 2016. Akash and Abhinav have done their respective Mechanical Engineering degrees from IIT Varanasi. Akash had his stint in Jindal Steel Works (JSW) before joining hands with Abhinav to launch the startup. On the other hand, Abhinav had worked in companies like Tata Steel and GreyOrange before forming Clean Electric.
Advanced energy storage solutions for mobility and stationary storage applications, as well as associated energy infrastructure & services, are produced, designed, developed, marketed, supplied, and offered by Clean Electric. For 2-wheelers, 3-wheelers, and battery-swapping applications, the business has developed liquid-cooled battery systems.
By addressing critical safety and performance challenges for EVs like battery fires, lengthy charging periods, and frequent battery replacement, Clean Electric's proprietary battery technology strives to improve safety and performance.
The startup asserts that it has developed direct liquid cooling technology, in which the battery cells are completely in contact with a coolant, ensuring maximum safety, 25 minutes of charging, and a 1.5X longer lifespan.
In addition to others, Exponent Energy, ION Energy, and Indi Energy are competitors of Clean Electric.