Volt14, a startup for battery technology, has raised $1.87 million in its pre-Series A funding round with Blume Ventures as the leader. Other round participants are Beyond Next Ventures, Spectrum Impact, Supermorpheus, and repeat investor Cocoon Capital. The total amount raised so far by the company stands at $4.02 million.

Volt14 will use the fresh capital to scale up its anode manufacturing and increase its employee strength. Started in 2019 by Animesh Kumar Jha, the company is focused on building battery technologies with better energy density and cost-effectiveness. Volt14 has developed an internal cylindrical EV-type battery cell with a silicon anode for increased energy density.

In 2024, the company's board of directors welcomed Puneet Gupta, a silicon industry veteran with more than 20 years of management background. Further, Yifan Tang, an experienced professional in the EV battery space with prior associations with Tesla, Lucid, and Seres, has joined as an advisor.

As per the International Energy Agency, almost 20% of vehicles sold in 2023 were electric vehicles, and the worldwide electric vehicle fleet is anticipated to increase 12-fold by 2035. "Volt14's technology delivers a tremendous boost in energy density, can take advantage of current cell production capacity, and scales well—putting us in a very good position for the future," says Animesh.

The international market for lithium-ion batteries is expected to surpass $300 billion by the year 2034, with a compound annual growth rate (CAGR) of more than 15%, industry research firm Global Markets Insights said in a report.