Deep-tech battery firm Log9 claimed to have raised $40 million as part of its Series B fundraising, with Amara Raja Batteries Ltd. and Petronas Ventures serving as the lead investors. By continuing to invest in cell and battery technologies, Log9, supported by its recent series of investments, wants to address the issues around safety, dependability, and performance.

"The recent round of investments will allow us to grow our battery manufacturing capabilities to a 2 GWH capacity by the end of 2024 and commission India's first fully integrated lithium-ion cell production line," said Dr Akshay Singhal, Founder and CEO, Log9. He said that more than Rs 100 crore will be invested towards advancements in cell and battery technology stacks.

"We will also be aggressively pursuing pilots in overseas markets over the next few quarters, with a particular focus on the tropical belt," Singhal added. Founded in 2015 by Dr Singhal, Kartik Hajela and Pankaj Sharma, Log9 has over 70 patents. Its range of batteries promises to charge 9x faster, last 9x longer and offer 9x higher performance and safety.

According to Vikramaditya Gourineni, Executive Director of Amara Raja Batteries Ltd., battery manufacture is the most important component of the value chain that needs to be localised. The company's "growth in the new energy and green transportation sectors" will be further aided by this relationship, according to Arni Laily, Head of Petronas Ventures.