Eco-battery startup Aloe Ecell raises Rs 3.5 Cr
Founded in 2018, Aloe Ecell operates in the primary battery segment and manufactures AA and AAA batteries using an aloe vera extract-based electrolyte instead of conventional chemical compounds.
Aloe Ecell, an Indian startup developing eco-friendly disposable batteries, has secured a Rs 3.5 crore funding commitment through Bharat Ke Super Founders, a business television series streamed on Amazon MX Player.
The funding includes Rs 2.5 crore in equity financing for a 4.16% stake in the company and Rs 1 crore in debt provided by Recur Club, according to a statement.
The capital will be used to expand distribution through quick-commerce platforms and scale operations.
The equity round was backed by investors participating on the show. Thyrocare founder Dr A. Velumani committed Rs 1.25 crore for a 2.08% stake, while Nazara Technologies CEO Nitish Mittersian invested Rs 50 lakh for 0.83%. All In Capital's Aditya Singh contributed Rs 25 lakh for 0.42%, and Shanti M invested Rs 50 lakh for another 0.83%, the company said.
Founded in 2018, Aloe Ecell operates in the primary battery segment and manufactures AA and AAA batteries using an aloe vera extract-based electrolyte, instead of conventional chemical compounds. The batteries are designed for low-power household devices such as remote controls, clocks, toys, and cameras, and are positioned as leak-proof and recyclable.
The company is targeting what it describes as an under-addressed environmental issue. An average individual in India discards between 15 and 20 batteries annually, translating to nearly 23 billion used batteries each year. Studies cited by the company suggest that a single discarded battery can contaminate up to 1.67 lakh litres of water.
Hosted by actor Suniel Shetty, Bharat Ke Super Founders features investors evaluating startups on market opportunity, scalability and unit economics, with a stated focus on long-term commercial and environmental outcomes.