Early-stage Indian battery and energy transition startups including Emo Energy, Baaz Bikes, EarthEn Energy, Arkle Energy, Magron Novus, and Moonrider are seeking nearly US$65 million, according to people familiar with the matter.

The fundraising suggests renewed investor interest, though electric-mobility funding remains far below last year’s levels.

The rounds range from about US$1 million for electric motorcycle startup Magron Novus to US$20 million for electric tractor startup Moonrider.

Bengaluru-based Emo Energy is seeking 1.5 billion rupees (US$15.9 million) to 2 billion rupees (US$21.2 million), while Baaz Bikes is seeking about US$15 million.

EarthEn Energy, which makes heat-storage batteries for industrial customers, is raising US$3 million. Arkle Energy, a Bengaluru-based startup developing vanadium redox flow batteries, is seeking about 200 million rupees (US$2.12 million).

Tracxn data showed electric-mobility startups raised US$445 million across 36 rounds so far this year, versus about US$1.7 billion across 121 rounds last year.

Investor interest is shifting to batteries, storage, and electric-vehicle infrastructure.

🔗 Source: The Economic Times