Innovative Battery Tech Startup Clean Electric Raises $2.2mn Led by Kalaari Capital

Clean Electric, an innovative energy storage solutions start-up, raises $2.2M in a seed round led by Kalaari Capital, an early-stage venture capital company with offices in Bengaluru. Additionally taking part in the round were Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation.

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Intense safety and performance problems for EVs such as battery fires, protracted charging periods, and frequent battery replacement are addressed by Clean Electric's proprietary battery technology. Clean Electric intends to establish a production plant in Pune with the money it has secured to create 5,000 battery packs per 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.

“India’s EV solutions will become global postulates. Next decade is going to witness the surge of EVs, expected to grow from the current ~1.4M to ~50M by 2030. India’s expectations of efficiency, performance, and safety of batteries under diverse and extreme constraints ranging from terrain to climate will seed global innovation. Clean Electric’s direct liquid cooled battery packs will become the benchmark, offering the highest safety while maximizing its life and efficiency. IITians Akash and Abhinav have invented zero kelvin packs which have the potential to meet growing needs of today and future.” said Ravinder Singh, Partner at Kalaari Capital.

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The company's products have been put through more than 30,000 kilometers of on-road testing and are currently undergoing pilot testing with several vehicle OEMs around the nation. The items are anticipated to be prepared for certification tests before year's end and compliant with AIS-156 Phase 2 requirements (to be implemented beginning in March 2023).

Additionally, Clean Electric intends to use the money to grow its R&D, sales, and operations teams and to create new products related to 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 and resulting in fatalities have weakened customer confidence and raised worries about their safety.