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Deeptech Battery Startup Log9 Raises $40 M In Series B Funding

Log9 is also backed by CBC Japan, Grip Invest Advisors, Cornerstone Venture Partners, LO Funds, Oxy Capital and other leading angel investors

Log9, a deep-tech battery startup raises a fresh round of capital worth USD 40 Mn as a part of its Series B Funding. 

The startup witnessed a mix of equity and debt raise led by Amara Raja Batteries and Petronas Ventures and saw participation from other marquee investors such as Incred Financial Services, Unity Small Finance Bank, Oxyzo Financial Services and Western Capital Advisors.

Log9 is also backed by CBC Japan, Grip Invest Advisors, Cornerstone Venture Partners, LO Funds, Oxy Capital and other leading angel investors.

Commenting on the recent fundraise, Akshay Singhal, Founder and CEO, Log9 said, The recent round of investments will allow us to grow our battery manufacturing capabilities to a 2 GWH capacity by the end of 2024 and commission India's first fully integrated Lithium Ion Cell production line." 

Furthermore, over Rs 100 crore will be invested towards advancements in cell and battery technology stacks. It will also be aggressively pursuing pilots in overseas markets over the next few quarters, with a particular focus on the tropical belt.



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