Log9 raised $40 million in Series B led by Amara Raja Batteries Ltd. and Petronas Ventures

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Deeptech battery startup Log9 raised $40 million funding in Series B led by Amara Raja Batteries Ltd. and Petronas Ventures where Incred Financial Services Private Ltd, Unity Small Finance Bank, Oxyzo Financial Services, and Western Capital Advisors also participated.

Log 9 makes batteries for electric vehicles (EVs) and energy storage systems. According to the startup, its batteries are suitable for Indian and other developing markets. According to CEO Singhal, Log9 will use the new funds to increase its battery manufacturing capacity to 2 GWH by the end of 2024 and to commission a fully-integrated lithium ion cell production line. Furthermore, it will invest INR 100 Cr in cell and battery technology stack advancements.

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Log9 raised $40 million in Series B led by Amara Raja Batteries Ltd. and Petronas Ventures

Deeptech battery startup Log9 raised $40 million funding in Series B led by Amara Raja Batteries Ltd. and Petronas Ventures where Incred Financial Services Private Ltd, Unity Small Finance Bank, Oxyzo Financial Services, and Western Capital Advisors also participated.

Log 9 makes batteries for electric vehicles (EVs) and energy storage systems. According to the startup, its batteries are suitable for Indian and other developing markets. According to CEO Singhal, Log9 will use the new funds to increase its battery manufacturing capacity to 2 GWH by the end of 2024 and to commission a fully-integrated lithium ion cell production line. Furthermore, it will invest INR 100 Cr in cell and battery technology stack advancements.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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