Neuron Energy, a leading EV smart battery manufacturer, has successfully raised INR 200 million in their Pre-Series A Round. Equanimity Investments and the Rajiv Dadlani Group led the investment, with participation from Chona Family Office (Havmor Group) and Kayenne Ventures, along with reputed Family Offices and HNI investors.
This funding milestone signifies the growth of Neuron Energy, a promising lithium-ion EV smart battery manufacturer established in 2018. The company plans to utilize the funds primarily for essential ICAT Certifications, mould development, and expanding the R&D team. Additionally, Neuron aims to hire CXO’s and senior management to strengthen its workforce. The funding will also support Neuron’s expansion in Li-Ion smart batteries for EV 2W’s and 3W’s, as well as its entry into the drone battery market.
Neuron Energy follows a low capex and low opex business model, allowing for high operating leverage and profitable year-on-year growth. The company is on track to surpass Rs. 100 Crores in Net Sales Revenue this year and aims to achieve Net Sales of over Rs. 500 Crores in the coming years. This highlights Neuron’s ambition to capture a significant market share and achieve substantial sales growth in the rapidly evolving EV industry. Known for producing high-quality smart batteries and providing exceptional service standards, Neuron has become a trusted brand among OEMs.
Neuron Energy specializes in lithium-ion and lead-acid technology smart batteries for E-Bikes, E-Rickshaws, and Golf Carts. They have a strong domestic and export network, with widespread sales of E-Bike smart batteries across India. Their branded products are distributed through a robust pan-India network of multiple depots and distributors. Neuron Energy has also expanded its export presence in the Middle East, Europe, and South-East Asia.
Commenting on the Fund raise, Pratik Kamdar, CEO & Co-Founder, Neuron Energy said, “This fundraise marks a crucial milestone in our company’s growth journey. Our esteemed investors bring extensive expertise in scaling businesses and will play a pivotal role in guiding our expansion. The funds raised will not only enhance our manufacturing capabilities but also bolster our workforce across all levels. Neuron Energy is committed to serving a broader customer base with top-of-the-line, rigorously tested lithium-Ion smart battery packs, and this funding will undoubtedly propel us towards achieving that goal.”