Chennai based lithium-ion batteries for electric vehicle (EV) and energy storage system start-up, Grinntech announced on 27th August, 2020, that it has secured USD 2M in a funding round from angel investors and senior people from automotive industry.
The investors include: Dr V Sumantran (Ex Vice Chairman of Ashok Leyland) and V Lakshmi Narayanan (Co-founder of Cognizant). As a part of deal both Mr. Sumantran and Dr. Narayanan will join the board of Grinntech.
The company also launched high-tech batteries customized to Indian conditions along with its proprietary IoT-enabled BMS to power 2-wheelers, 3-wheelers, tractors and light vehicles.
This startup was incubated by IIT-Madras and is currently working on technologies that could support fast adoption of Electric Vehicles.
Started in the year 2013 by Puneet Jain and Nikhilesh Mishra, design and develop innovative, affordable and quality energy storage EVs for the world. Grinntech’s batteries provide the combination of design and sophistication to ensure high performance and durability, as stated in the press release of the company.
The company is also working on new standards in safety, intelligent controls, energy-density, power-management, long life and reliability. Apart from this, it also undertakes custom battery development for customers in India and abroad.
Talking about the expansion, the co-founders of Grinntech commented, “It was always our dream to create a technologically advanced lithium-ion battery product-line that was built-to-cost for Indian conditions along with its production system. We are hopeful that we will catch the fast-growing wave for EV products by Indian customers.”
Co-founder Nikhilesh Mishra said, “Apart from affordable, high-quality batteries that employ customisable and superior thermal management, we anticipate EV makers and customers will soon require additional capabilities like battery performance analytics and connectivity. With our innovative product range and sophisticated IoT-enabled BMS systems, we are ready for this future.”
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