Funding · Mobility & Logistics

Cygni Energy raises Rs 60 crore from Meridian Global Ventures

By Startup Enthusiast · 1 April 2026

What they do

Cygni Energy makes lithium-ion battery packs and energy storage for electric mobility and renewable energy

It raised Rs 60 crore ($6.4M) from existing investor Meridian Global Ventures at a valuation of around Rs 244 crore

The funds will be used for expansion and scaling battery energy storage solutions

Cygni Energy is raising Rs 60 crore ($6.4M) from existing investor Meridian Global Ventures.
The post-money valuation is around Rs 244 crore.
Meridian Global Ventures will increase its stake to 49.23% after the allotment.
The board passed a special resolution to issue 4,16,667 CCPS (compulsorily convertible preference shares) at Rs 1,440 per share.
Proceeds will be used for expansion, scaling battery energy storage solutions, and strengthening clean energy presence.
This is a follow-on investment from the same investor.

Cygni Energy's FY25 revenue dropped to Rs 38.4 crore from Rs 47 crore in FY24.
Its FY25 losses increased to Rs 8.64 crore from the previous year.
The company has raised a total of around $19M before this round.
The previous round was Rs 100 crore ($12.5M) in debt and equity from Meridian Global Ventures and Indian Overseas Bank in August 2022.

Cygni Energy is a battery technology startup founded in 2014.
It manufactures lithium-ion battery packs and energy storage systems.
Its products serve electric mobility (e-rickshaws, e-bikes, e-autos) and renewable energy applications.
The company focuses on advanced manufacturing in India.
It reported FY25 revenue of Rs 38.4 crore and losses of Rs 8.64 crore.

Meridian Global Ventures (lead) — Existing investor increasing stake to 49.23%.