Clean Electric, has raised $6 million in Series A funding. The funding round was co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, with participation from Lok Capital and other strategic investors. This investment will fuel Clean Electric's mission to revolutionize electric mobility with cutting-edge energy storage solutions.
While billions are being invested in developing new battery materials and chemistries, it could take decades for these breakthroughs to scale to the current level of Li-ion battery production, which exceeds 1000+ GWh. Clean Electric takes a more immediate and practical approach. Instead of waiting for future advancements, they are leveraging existing, off-the-shelf Li-ion cells and using our proprietary hardware and software to improve performance by up to 200%. This not only matches the potential of next-gen batteries but also significantly extends battery life, optimizing the use of critical raw materials in the manufacturing of EV battery packs and grid storage solutions.
By enhancing what’s already available, Clean Electric is driving innovation that benefits both the short- and long-term future of energy storage and electric mobility.
Founded in 2016 by IIT-BHU graduates Akash Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric has swiftly positioned itself as a pioneer in the development of advanced battery technologies designed for electric vehicles (EVs) and grid applications. The company's innovative solutions include proprietary rapid charging technology capable of fully charging electric vehicles in under 12 minutes, significantly outpacing existing standards that range from 40 minutes to over an hour.
As India strives to meet its ambitious electric mobility goals, the demand for efficient, reliable, and safe battery solutions has surged. With EV penetration still in single digits, the market is ripe for innovation that addresses critical consumer concerns such as cost, convenience, and safety. Clean Electric’s proprietary technology directly tackles thesechallenges by offering a safer, faster, and more durable battery solution, making EVs a more practical and appealing choice for consumers.
Clean Electric's breakthrough lies in its advanced software algorithms and unique battery architecture. The company's proprietary charging algorithm has been honed over 0.5 Mn hours of battery testing over the last four years, enabling rapid charging times of just 10-12 minutes without compromising battery life. Their technology stack, which is both cell and chemistry agnostic, includes a patented Direct Contact Liquid Cooling (DCLC) system and an integrated cell-to-pack (CTP) architecture, ensuring enhanced safety by mitigating thermal runaway risks and boosting EV range.
Recently, Clean Electric demonstrated its 12-minute rapid charging capability on electric two- and three-wheelers in Pune, utilizing open network public charging stations (CCS 2, Bharat DC 001, and Type-6), while maintaining a battery life of over 3700 cycles. This demonstration underscores the company’s commitment to pushing the boundaries of what’s possible in EV technology.
The newly raised funds will be directed towards expanding Clean Electric's research and development, sales, and operations teams, as well as developing new products focused on faster charging and renewable energy storage. The company also plans to extend its technology to e-4W (electric four-wheelers) and commercial vehicles, further solidifying its position as a key player in the global transition to electric mobility.
Akash Gupta, Co-Founder and CEO of Clean Electric, commented on the funding: "We are incredibly proud to have the backing of such esteemed investors who share our vision of transforming the electric vehicle landscape. This investment is not just a financial boost; it is a validation of the groundbreaking work our team is doing to redefine what's possible in EV technology. We aim to make electric vehicles a practical, greener, and attractive option for millions of people in India and beyond, ultimately driving the global transition to cleaner, more sustainable transportation & non-fossil-based energy generation."
Pranav Koshal, part of the Kalaari Capital - “We are proud to have been the first backers of Akash, Abhinav and the clean electric team who have shown great passion and a commitment to innovate. Clean electric is emerging as a leader in efficient battery & energy storage systems which will be crucial to drive the growth of EVs and the transition to green energy.”
Shubham Sandeep, Managing Director at pi Ventures said, “ At pi, we are always on the lookout for world-leading technology startups and were impressed by the ultrafast EV charging demonstrated by the Clean Electric team on public charging infrastructure.
Affordable fast charging is a precursor to mainstream EV adoption and driven by its full stack approach encompassing both software and hardware innovation, Clean Electric is well positioned to capture this large growing market. This marks our first investment in the EV space and we are excited to partner with Akash, Abhinav and the Clean Electric team.”
Chinmaya Sharma, Partner at Info Edge Ventures said, “ Our thesis is that there still remain pivotal unsolved parts in the value chain of electric mobility, both passenger and commercial. Reliable batteries that can be charged quickly without decline in cycles and range is a key example. Clean Electric’s current suite of products and technical prowess make them a key contender to solve this at a national, possibly global scale. We are excited to support and serve them.”
Vikram Dileepan Director at LOK : “ Akash, Abhinav and Ankit along with the broader CE team have created industry leading tech at the bleeding edge of battery thermal management solutions. We are looking forward to partner and help them continue their journey towards scale , while they create positive climate impact via electrification of Inda.
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