How The Battery Tech Startup Fell From Glory

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Amid the BluSmart-Gensol saga, which has become the new focal point for the debate around startup corporate governance lapses, the downfall of Log9 Materials has largely gone under the radar.

After raising more than $60 Mn from VCs and industry majors, Log9 has struggled to adapt to the shifting realities of the Indian EV battery market. 

After multiple pivots and technology failures, the 2015-founded EV startup is now embroiled in legal battles with customers and burdened with mounting debt. Key decisions taken by the company around…



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How The Battery Tech Startup Fell From Glory


Amid the BluSmart-Gensol saga, which has become the new focal point for the debate around startup corporate governance lapses, the downfall of Log9 Materials has largely gone under the radar.

After raising more than $60 Mn from VCs and industry majors, Log9 has struggled to adapt to the shifting realities of the Indian EV battery market. 

After multiple pivots and technology failures, the 2015-founded EV startup is now embroiled in legal battles with customers and burdened with mounting debt. Key decisions taken by the company around…



Source link

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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