IIT-Madras Incubated Startup Grinntech Raises $2 Million
IIT-Madras incubated startup Grinntech has closed a funding round of $2 million from a set of high net-worth individuals (HNIs) and senior people belonging to the automotive industry.
Grinntech unveiled a range of high-tech batteries that are customised as per Indian conditions. The startup also unveiled its proprietary IoT-enabled BMS to power 2-wheelers, 3-wheelers, and tractors/light vehicles.
Founded by Nikhilesh Mishra and Puneet Jain in 2013, Grinntech is a startup specialising in lithium-ion batteries for electric vehicles (EVs) and energy storage systems. The startup is currently working with big companies and on technologies that can enable fast adoption of EVs.
The startup claims that their Lithium-ion batteries are setting new standards in safety, energy density, long life, reliability, and smartness.
Talking about the batteries, the Co-Founders said,
“It was always our dream to create a technologically advanced lithium-ion battery product-line that was built-to-cost for Indian conditions along with its production system. We are hopeful that we will catch the fast-growing wave for EV products by Indian customers.”
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