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Clean Electric raises USD 2.2 million

Clean Electric raises USD 2.2 million

Funding News

Clean Electric raises USD 2.2 million

Energy storage solutions startup Clean Electric on Monday said it has raised USD 2.2 million (about Rs 18 crore) in a funding round led by early-stage venture capital firm Kalaari Capital.

Besides, Climate Angels, which invests in early-stage pollution reduction and climate tech startups, has also invested in the company along with the participation of LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation in the seed funding round, the startup said in a statement. The company plans to set up a manufacturing facility in Pune to produce 5,000 battery packs per month with the funding, it said.

Also read: Razorpay Wins ‘Startup of the Year’ at the ET Startup Awards 2022

Also, the funds will also be utilised for expanding R&D, sales and operations teams, apart from developing new products around faster charging, renewable energy storage, and battery swapping, it added. The startup said it has built liquid-cooled battery solutions for two-wheeler, three-wheeler, and battery swapping applications.

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