EMO Energy, a battery-tech company based in Bengaluru has raised Rs 100 million in a seed round led by Transition VC and co-led by Gruhas. According to EMO, ZEN PAC, a portable 20-minute charge battery pack for two- and three-wheelers is an application created by the company. ZEN PAC has the lowest total operating cost of Rs 1 per km and has a 120 per cent increase in the life of regular NMC and LFP cells.
It has been tested for more than 10,000 kilometres with several original equipment manufacturers and fleet operators in the most harsh climatic conditions. Transition VC also allows EMO to enter the grid storage market for home and business applications such as lead-acid battery and diesel generator substitution.
Recently, in May 2023, BluSmart Mobility announced a $42 million fundraising round in April 2023. It raised $37 million in venture capital and $5 million in venture debt. The energy investors participated in the investment round, with the BluSmart founders and leadership team contributing over 50 per cent.
Also, in the same month, Solar Ladder, a Mumbai based comprehensive supply chain platform for solar installation companies received an initial fundraising round of Rs 110 million. According to the company, the raised capital will be deployed to distribute software that automates processes for solar installers, allowing them to scale up their business.