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Funding · Climate, Energy & Sustainability

e-TRNL Energy raises ₹27.4 Cr seed round

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Date
Company
e-TRNL Energy
What it does
Battery cell manufacturing tech
Kind
Funding
Amount
₹27.4 Cr ($3 Mn)
Stage
seed
Based in
Bengaluru
Founded
2021
Sector
Climate, Energy & Sustainability

What they do

E-TRNL Energy builds lithium-ion and sodium-ion battery cells with in-house machinery

What happened

The company raised ₹27.4 Cr led by IAN Alpha Fund to scale Indian manufacturing

Why it matters

It aims for 250 MWh annual capacity by 2027 to compete with rivals like Neuron

The details

  • e-TRNL Energy has raised ₹27.4 Cr in a new seed funding round.
  • The investment was led by IAN Alpha Fund from the IAN Group.
  • Other participants included Navam Capital, Anicut Capital, and Speciale Invest.
  • Angel investors Tarun Mehta and Swapnil Jain also joined this round.
  • The company plans to use funds for product development and scaling manufacturing.
  • Founders are Apoorv Shaligram (CEO) and Dr. Uttam Kumar Sen.
  • This follows an earlier pre-seed round of ~₹7.5 Cr in 2022.

The bigger picture

  • Competitor Neuron Energy recently secured ₹31 Cr for larger capacity.

About the business

  • The firm creates chemistry agnostic battery cell solutions.
  • It supports both Li-ion and Na-ion battery technologies.
  • The team designs its own manufacturing machinery from scratch.
  • Future plans include LMFP and sodium-ion battery chemistries.
  • Long-term goals include reaching 2 GWh/year production capacity.

What happens next

  • Complete product development using the new funds.
  • Demonstrate Li-ion battery cell manufacturing at scale.

The deal

Type
Seed Round

Investors

  • IAN Alpha Fund (lead) — Part of the IAN Group.
  • Navam Capital (co-lead)
  • Anicut Capital (participated)
  • Speciale Invest (participated) — Previously invested in pre-seed round.
  • Micelio Mobility (participated) — Previously invested in pre-seed round.
  • IIMA Ventures (participated)
  • Tarun Mehta (angel) — Co-founder of Ather Energy.
  • Swapnil Jain (angel) — Co-founder of Ather Energy.

Founders

  • Apoorv Shaligram, CEO
  • Dr. Uttam Kumar Sen, Co-founder

About e-TRNL Energy

Product
cell technology startup

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