IAN Group Injects ₹27.4 Cr into e-TRNL Energy’s Next-Gen Battery Innovation
e-TRNL Energy, a pioneering cleantech startup, has secured a significant seed funding of ₹27.4 crores from the IAN Group’s IAN Alpha Fund. This investment emphasizes the confidence in the company’s next-generation battery technology.
Investment in Next-Gen Battery Technology
The funding from the IAN Group, supplemented by contributions from Navam Capital and Speciale Invest, is poised to accelerate e-TRNL Energy’s mission to redefine clean energy storage. The startup aims to innovate battery cell architecture that meets the demands of the modern energy landscape.
Founders’ Expertise
- Apoorv Shaligram: Co-founder and CEO, with over ten years of experience in lithium-ion research and electric vehicle (EV) battery design.
- Dr. Uttam Kumar Sen: Co-founder and CTO, possessing a PhD in Energy Science & Engineering, backed by extensive experience in battery development.
Innovative Technology Approach
e-TRNL Energy is dedicated to developing batteries that are both safer and more efficient. The company’s cutting-edge battery designs aim to:
- Reduce heat generation
- Provide faster charging times
- Enhance energy density
These advancements are expected to drive down manufacturing costs while improving economic efficiency.
Utilization of Funds
The newly acquired funding will enable e-TRNL Energy to:
- Complete the product development phase.
- Validate safety and performance standards.
- Showcase manufacturing capabilities in India.
Facility and Production Plans
e-TRNL Energy currently operates a 20,000 sq. ft. R&D facility in Bengaluru. The company plans to set up a pilot manufacturing facility with a capacity of 250 MWh by 2027, with aspirations to expand this output to 2 GWh in the long run. The initial product will utilize Lithium Iron Phosphate (LFP) chemistry, with future plans to incorporate LMFP and Sodium-ion technologies.
Future of India’s Energy Storage
Apoorv Shaligram emphasized that this funding will accelerate e-TRNL Energy’s journey toward commercialization. It also strengthens India’s position in the global energy storage market. The Indian battery cell market is anticipated to reach around 400 GWh annually by 2035, highlighting both the economic potential and the necessity for local manufacturing to mitigate supply chain risks.
Conclusion
The IAN Alpha Fund, which manages a capital pool of $100 million, aims to support innovative startups like e-TRNL Energy that address critical challenges in India’s energy sector. Rajnish Kapur, Managing Partner at IAN Alpha Fund, underlined the importance of developing local battery technologies to reduce import reliance and secure a sustainable future for India’s energy landscape.
