Risk investors are expanding their commitments to hardware makers focused on Indian energy infrastructure, particularly in grid management, energy storage, and power electronics. Bengaluru-based Enerzolve is currently in discussions to raise $20 million in a new funding round. The round involves Schneider Electric alongside existing backers Kae Capital and Jungle Ventures. This planned infusion represents roughly four times the $5 million the hardware startup previously raised in January.
Key points
Enerzolve previously secured a smaller funding round of $5 million in January.: Enerzolve previously secured a smaller funding round of $5 million in January.
The proposed $20 million round represents nearly four times the capital Enerzolve raised…: The proposed $20 million round represents nearly four times the capital Enerzolve raised previously.
Risk investors are targeting Indian startups developing power electronics, grid managemen…: Risk investors are targeting Indian startups developing power electronics, grid management, and energy storage.
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Bengaluru: Startups building hardware for India's energy infrastructure are raising follow-on rounds several times the size of their previous fundraises, as risk investors deepen bets on technologies spanning grid management, storage and power electronics.Bengaluru-based Enerzolve, which makes smart meters, power conversion systems and energy storage systems, is in talks to raise $20 million from existing investors Jungle Ventures and Kae
Business NewsTechStartupsEnergy infra startups see bigger cheques as investors bet on sovereign play
Energy infra startups see bigger cheques as investors bet on sovereign play
Synopsis
Bengaluru-based Enerzolve, which makes smart meters, power conversion systems and energy storage systems, is in talks to raise $20 million from existing investors Jungle Ventures and Kae Capital as well as Schneider Electric, people aware of the matter told ET. That’s nearly four times the $5 million it raised in a January round.
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