Clean Electric Secures INR 48.5 Cr in Series A Funding to Propel Expansion and Innovation Clean Electric aims to use the proceeds for working capital requirements, expansion, capital expenditure, and general corporate purposes.
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Clean Electric, an energy storage solutions startup, has secured INR 48.5 crore (approximately USD 6 million) in its latest funding round, reflecting growing investor confidence in the firm's innovative technology.
This round marks the company's second significant capital infusion in the past 20 months, bringing its total funding to around USD 9 million. The startup had previously raised USD 2.2 million in seed funding in 2022, led by Climate Angels and Kalaari Capital.
The new investment round, as per internal documents filed with the Registrar of Companies (RoC), involved the issuance of 31 equity shares and 12,328 Series A preference shares at INR 39,243 per share.
The round was co-led by Info Edge and Pi Ventures, each contributing INR 14.16 crore, while existing investor Kalaari Capital reinforced its commitment with an additional INR 14 crore. Angel investors, including Pankaj Chaddah, Amit Kumar, Rama Advisors, and Lok Capital, collectively added INR 6.18 crore to the funding pool.
Clean Electric plans to utilise the fresh capital to meet its working capital requirements, support expansion initiatives, and cover capital expenditure and general corporate purposes.
Founded in 2016 by Akash Gupta and Abhinav Roy, Clean Electric develops and manufactures advanced liquid-cooled battery solutions for two-wheelers, three-wheelers, and battery swapping, along with energy storage and infrastructure services.
