Team StartupCity

• Neuron Energy secures Rs 31 crore in pre-Series B funding.
• Funds to expand capacity to 3 GWh and build new automated facility.
• Company targets domestic scale-up and global market entry.

EV battery maker Neuron Energy has raised Rs 31 crore ($3.5 million) in its pre-Series B round, backed by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, and several other family offices and high-net-worth investors. With this round, the Mumbai-based company has now raised Rs 80 crore in total.

Neuron Energy plans to use the new capital to expand its manufacturing capacity to 3 GWh and set up a fully automated advanced facility designed for EV batteries used in four-wheelers and buses. The company will also strengthen its R&D programs, drive domestic expansion, and build its presence in global markets.

Founded in 2018 by Pratk Kamdar, Neuron Energy develops EV batteries using advanced lithium-ion technology and is also building next-generation sodium-ion solutions. The company focuses on quality, innovation, and sustainability as it aims to contribute to India’s fast-growing clean mobility sector.

The company said it has built smart battery management systems and innovation-led products that reinforce its strong position in the two-wheeler battery market. Neuron Energy also plans to strategically enter heavier EV categories as demand expands.

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Neuron Energy operates with a low-CapEx, low-OpEx model, which has enabled consistent profitability. The company expects to close this financial year with Rs 200 crore in revenue and is targeting over Rs 900 crore in sales in the next few years while maintaining profitability.

Other startups working in the EV battery and mobility space include Amara Raja Energy & Mobility, Altigreen Propulsion Labs, and Anchor Electricals.