EV battery maker Neuron Energy raises Rs 31 crore to expand its manufacturing capacity

Neuron Energy, a EV battery manufacturer, has raised Rs 31 crore in a pre-Series B funding round led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, along with participation from family offices and HNI investors.

Founded in 2018, the startup offers a wide range of mobility solutions powered by advanced lithium-ion technologies and is actively expanding into next-generation sodium-ion solutions.

Neuron will use the raised capital to expand its manufacturing capacity to 3 GWh and establish a fully automated, state-of-the-art facility for electric four-wheelers and buses at Chakan, Pune. It will also focus on strengthening its R&D capabilities, accelerate domestic growth, and broaden its footprint in international markets, the release notes.

The startup, which has a low-CapEx and low-OpEx business model, claims it has been growing profitably year-on-year and is on track to achieve Rs 200 crore in revenue this year. It also aims to achieve sales of over Rs 900 crore over the next few years. 

Pratik Kamdar, CEO and Co-Founder of Neuron Energy, commenting on the funding, said, “This Pre-Series B round is a defining step in our mission to industrialise world-class battery manufacturing in India. As EV adoption accelerates, we are focused on building capacity, embedding automation, and pushing the boundaries of performance and reliability. This investment ensures we can deliver at scale, both in India and globally.” 

Rajesh Sehgal (Equanimity Ventures) added, "We see immense potential in Neuron Energy’s approach to EV battery innovation and scalability. Their focus on quality, automation, and energy efficiency aligns with the evolving demands of the EV industry in India and beyond. We are proud to support their next phase of growth as they scale into new vehicle categories and manufacturing capacities."

Rajiv Dadlani, from the Family Office of the Rajiv Dadlani Group, said, "Neuron Energy demonstrates remarkable potential to become the market leader, with their renewed focus, in delivering top-quality products. The company and its founders are highly committed to delivering rigorously tested and safe-to-use Li-Ion smart batteries. We are confident that they will continue to thrive and set new standards in the industry."