Source: IndianWeb2.com
Volt14, an Indian battery tech startup, recently garnered USD 1.87 million in Pre-Series A round, led by Blume Ventures and with participation from Beyond Next Ventures, Spectrum Impact, Supermorpheus, and Cocoon Capital. With this infusion of capital, the total funds raised by the startup stands at USD 4.02 million.
The newly raised capital will be used toward scaling up production of the silicon-rich anodes and the expansion of its workforce. These anodes are supposed to increase the energy density of batteries, leading to longer-lasting ones in consumer electronics and EVs. The company has also developed a cylindrical EV-format battery cell in-house to demonstrate best-in-class energy density with its proprietary silicon anode technology.
Founded in 2019, things were set evolving as Animesh Kumar Jha, a former Forbes 30 Under 30 with a materials science background, initiated work on next-generation silicon anodes for lithium-ion batteries at Volt14. Since then, the company has moved from development of core materials to offering anode products ready for commercial use by cell manufacturers after its last round of funding.
Animesh Jha, Founder, Volt14, said,
“We are delighted to have the backing and vote of confidence from such high-quality investors — Blume Ventures, Beyond Next Ventures, and Spectrum Impact. Over the past five years, our focused and resilient team has made outstanding progress in commercializing our high-performance silicon anode platform. Electrification is an irreversible trend, and in this paradigm we are excited to help our partners unlock tangible product advantages through superior battery performance. Volt14’s technology delivers a substantial boost to energy density, can leverage installed cell production capacity, and scales efficiently — positioning us strongly for the future.”
Arpit Agarwal, Partner at Blume Ventures, added, “We are excited to lead this investment round in Volt14, a company that is fundamentally reimagining the future of battery technology. Their breakthrough silicon anode innovation represents a step-change in energy storage capabilities that could push the boundaries of what’s possible with Lithium-ion batteries. Under the very capable leadership of Animesh and Puneet, whose technical expertise and vision are world-class, we have full confidence in Volt14’s ability to scale this company globally. We look forward to supporting their journey as they revolutionize energy storage solutions for a more sustainable future.”
“As Japan’s top deep tech fund, we invest early in startups that align with our fund thesis of Healthy Planet, Happy People. Our investment in Volt14 is a step in that direction. Volt14 and the founders’ disruptive vision for a sustainable world by innovating in the battery chemistry space perfectly resonates with our mission to back the pioneers building a happy planet, mentioned Jay Krishnan, Partner, Beyond Next Ventures.
Serving the ever-growing need for electric vehicles and energy storage for renewable energies, the global lithium-ion battery market is projected to touch USD 300 billion by 2034 with a compound annual growth rate (CAGR) of more than 15%. According to the International Energy Agency, nearly one in every five cars sold worldwide was an EV in 2023, and the EV fleet is slated to grow twelve times by 2035. Countries like India and the U.S. have aggressively promoted domestic manufacturing of lithium-ion batteries through incentives and subsidy programs.
