Clean Electric, a startup focused on energy storage solutions, has raised $6 million in a funding round co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital. Other participants in the round included Lok Capital and additional investors.
This investment brings Clean Electric’s total funding to approximately $9 million, following a $2.2 million seed round led by Climate Angels and Kalaari Capital in 2022. Each of the three leading investors—Info Edge Ventures, Pi Ventures, and Kalaari Capital—contributed INR 14.5 crore (around $1.75 million), while Lok Capital invested INR 5 crore.
The newly raised capital will be used for research and development, expanding the sales and operations teams, and developing new products.
Founders of Clean Electric
Founded in 2020 by Akash Gupta and Abhinav Roy, Clean Electric has focused on creating advanced liquid-cooled battery solutions for two- and three-wheelers, as well as developing battery swapping and energy storage infrastructure. The Pune-based startup has already made significant strides in the electric mobility sector.
Notably, its two-wheeler batteries can charge within 12–15 minutes, while three-wheeler batteries take 20–25 minutes. Clean Electric is currently working with 12 electric vehicle OEMs and plans to extend its technology to four-wheelers and commercial vehicles.
By the first quarter of 2025, the company plans to launch battery packs for four-wheelers and later expand to heavy electric vehicles.
Expanding Manufacturing Capacity
Clean Electric aims to increase its manufacturing capacity by the end of this year from 20 MWh to between 150-200 MWh annually. Although the company’s products come at a 10-20% premium compared to competitors, Gupta expects this gap to narrow as production scales.
The funding round marks a pivotal moment for Clean Electric as it seeks to solve key challenges in the electric mobility value chain. Chinmaya Sharma, Partner at Info Edge Ventures, highlighted Clean Electric’s role in developing reliable batteries that charge quickly without a decline in cycles and range. “We are excited to support and serve them,” Sharma said.
