Clean Electric, a Pune based fast charging battery solution for electric vehicles has recently raised $6 million in its latest funding round led by Info Edge Ventures, Pi Ventures, and Kalaari Capital. The funding round also saw the participation of Lok Capital and other investors in the round.

The newly raised fund will be utilized in spreading their research and development, growing the sales and development team, and develop new products. The company has expressed these information in their official press release.
Clean Electric, founded by Akash Gupta and Abhinav Roy, designs and manufactures advanced liquid-cooled battery solutions for two- and three-wheelers, as well as battery swapping, energy storage, and infrastructure services.

Clean Electric is actively working with 12 original equipment manufacturers (OEMs) in the electric vehicle (EV) sector, focusing on two- and three-wheelers, and is now setting its sights on expanding its innovative battery solutions to electric four-wheelers and commercial vehicles.

The company’s cutting-edge liquid-cooled battery technology has garnered attention as the EV market rapidly grows, and Clean Electric is positioning itself as a key player in the ecosystem.

To date, the startup has raised approximately $9 million in funding, which includes a notable $2.2 million seed round in 2022 led by Climate Angels and Kalaari Capital, a major venture capital firm.

Kalaari Capital is the company’s largest external investor, holding a 20.7% stake, while Info Edge and Pi Ventures each hold an 8.02% share, according to data from TheKredible, a startup intelligence platform. This funding has helped Clean Electric accelerate its product development, manufacturing capabilities, and expansion into new market segments.

In a media interview, Co-founder Akash Gupta, revealed that the company is currently generating an annual run rate (ARR) of $1.2-1.5 million. With strong growth momentum, Clean Electric aims to substantially increase its ARR to nearly $10 million by next September. This ambitious target reflects the firm’s strategy to scale its operations and capture a larger share of the booming electric vehicle market.