Maxvolt Energy Secures USD 1.5 Mn From Angel Investors

Highlights :

  • The global lithium-based battery industry is projected to reach a total addressable market (TAM) of USD 300 Billion by 2035.
Maxvolt Energy Secures USD 1.5 Mn From Angel Investors Maxvolt Energy Secures USD 1.5 Mn From Angel Investors

Maxvolt Energy Industries, a Noida-based lithium battery manufacturer, and battery pack supplier for electric vehicles, energy storage systems, and medical devices raised 1.5 million USD in funding from multiple angel investors. This capital infusion will support Maxvolt Energy’s plans to advance sustainable energy solutions and strengthen its market position by introducing fast-charging lithium-ion batteries soon.
Maxvolt aims to develop lithium battery architectures for various sectors, including electric bikes, scooters, and solar energy systems, while adhering to global compliance and technological advancements.

Satendra Shukla, Chief Business Officer of Maxvolt Energy, shared his plans for the funding round, stating, “This fundraising is a testament to our investors‘ confidence in our vision and business model. As a purpose-driven organisation, Maxvolt is dedicated to providing eco-friendly energy solutions through our cutting-edge lithium-based batteries. We are developing a fast-charging solution that will significantly reduce customers’ charging times. In the prototype development phase, the company aims to launch the final product in phases by the end of 2024 after thorough R&D. In the first phase; we will reduce the charging time to 2 hours and 1 hour in the subsequent phase.”

Maxvolt registered revenue of Rs 48.60 Crore in the last fiscal year with 100% CAGR. This growth positions Maxvolt Energy for long-term success in the dynamic energy storage market. 

“This investment will accelerate our research and development efforts, enhance the production capacity, and expand our market reach, enabling us to significantly impact reducing carbon footprints through sustainable practices and innovative technology,” Shukla further added.

Maxvolt emphasises reusability, striving to extend the lifespan of old batteries through innovative techniques. These methods prepare lithium batteries for a second life, repurposing them for various small rechargeable applications such as solar streetlights, routers, CCTV cameras portable lights & toys. Furthermore, the company has  announced its plan to establish cutting-edge recycling plants. 

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