Ion Energy, a Mumbai, India-based energy-tech startup building advanced electronics and software platforms for new energy enterprises, raised $3.6m in Pre-Series A funding.
The round was raised from Amazon’s Climate Pledge Fund and joined by Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital, Venture Catalysts, and other angel investors. As part of the round, Anup Menon, Head of Strategy & Emerging Technology at Bank of America will join ION’s Board of Directors.
The company intends to use the funds to grow the ION team to 125+ (currently 70), invest in product development, and expand the software business in North America and Europe.
Founded in 2016 by Akhil Aryan, CEO, Ion Energy provides a smart battery management platform (BMS) that leverages proprietary algorithms to improve battery life and performance. The BMSs are typically sold as a product or a technology license to original equipment manufacturers (OEMs) that are developing lithium-ion batteries and/or electric vehicles. The startup, which is headquartered in India, with operations in France and the U.S., today works with more than 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain and the U.S. Customers have deployed 60,000 smart BMS in electric vehicles and stationary storage systems.