EMO Energy raises $6.2M in Series A funding
The newly raised funds will be used to scale up its two and three-wheeler energy solution to over one lakh vehicles in the next two years.
EMO Energy has raised $6.2 million in a Series A funding round led by Subhkam Ventures, with participation from existing investor Transition VC.
The company will use the funds to scale up its two- and three-wheeler energy solution to over one lakh vehicles in the next two years, while advancing the deployment of 1 gigawatt hour (GWh) of energy storage. The funds will also be used to strengthen the company’s research and development capabilities for its proprietary battery health extension software and to expanding its team, said EMO Energy in a statement.
“Our focus is to create an integrated urban energy solution by deploying batteries and chargers in energy storage and light mobility. Over the last 12 months, EMO has forged critical high-volume partnerships across major OEM’s, and with the latest infusion of capital, we are now well-equipped to scale from 2 to 2000 kWh,” said Sheetanshu Tyagi, co-founder and CEO of EMO Energy.
“EMO is creating an ecosystem where dark stores and commercial establishments will have EMO enabled Delivery Vehicles powered by EMO Fast Chargers and Energy Storage Systems, all managed by an integrated Energy Management Software. This funding will accelerate our mission to reshape the future of urban India and expand our impact on sustainable solutions for the future of clean energy,” he added.
Founded in 2022 by Sheetanshu Tyagi and Rahul Patel, the company offers solutions, powered by its proprietary Cell Agnostic Tech stack, ZEN, that enable ultra-fast 20 minute charging while extending battery life of electric vehicles (EVs) to over five years.
The funding announcement comes as the government pushes for wider adoption of EVs in the country, especially in the quick commerce and logistics segments.
EMO Energy has deployed over 2,000 battery packs in the mobility segment and is conducting production-ready pilots for energy storage systems for providing peak shaving or backing.
Peak shaving or load shedding refers to the practice of purposefully reducing electricity consumption during periods of high demand to stabilise the grid by lowering overall power usage.
Edited by Swetha Kannan