Set in IIT Madras, Triolt Energy Pvt Ltd, a startup dealing in next-generation energy storage solutions, has raised Rs 71 lakh in funding. The funding round was led by the Campus Angels Network. This comes on the heels of the recent raise of Rs 1.29 crores led by Little Angels Network and SIDBI. This rise at Triolt Energy epitomizes the rapid growth in innovation in the lithium-ion battery sector.
Triolt Energy was founded by IIT Madras alumni Raghu Sripada and Ananya Gangadharan. Along with the IISc Bangalore alumnus Rajesh Thomas, to design and fabricate advanced lithium-ion cells. The patented technology focuses on electrode material processing. And unique cell designs catering to future requirements of electric vehicles and other demanding applications. Its solutions improve safety and performance while being cost-efficient.
Commenting on the funding, Raghu Sripada, Co-Founder and CEO, of Triolt Energy, said, “This funding will also accelerate our efforts to bring our cutting-edge lithium-ion cells to the market.” He attributed incubation at IIT Madras Incubation Cell and mentorship from Prof. Ashok Jhunjhunwala. As equipping the team to lead the innovation in energy storage technology. This investment by Triolt Energy will enable the company to address some of the major pain points currently facing the industry. Such as fast charging, high discharge rates, and long cycle life. This will further open up EVs to a wider audience and make them even more viable.
Chandran Krishnan, the Managing Director and CEO of Campus Angels Network, expressed delight at making this investment. “With a strong foundational work at IIT Madras, Triolt Energy’s innovative approach perfectly fits our investment philosophy.” He reportedly believes that their advanced energy storage solutions will become a key enabler in the future both for mobility and renewable energy.
The new funding will also be used to scale up production, validate technology, and deploy initial products to select customers. Triolt Energy is also working on pioneering next-generation lithium-ion cells to improve its proprietary technologies. This company will strive to reduce EV charging time from six hours to just 15 minutes and extend battery life by 1.5 times. These efforts will push the industry to higher, more effective usage. And sustainability of energy, embedding Triolt Energy further in the market.
ANI
