VFlowTech has raised $20.5 million to scale its long-duration energy storage business in India. The funding round was led by Granite Asia, along with participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and existing investors such as İnci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First. The company plans to use the capital to expand its deployment of vanadium redox flow batteries (VRFB) and upgrade its 100 MWh battery manufacturing facility in India into a Gigafactory. It also intends to develop artificial intelligence-driven energy management systems.
Additionally, the company also plans to use the funds to strengthen its local presence by expanding hiring in engineering, research, and operations functions. It also plans to invest in vanadium recycling and improve innovation in electrolyte manufacturing to enhance supply chain resilience.
Furthermore, VFlowTech states that the raised capital reflects increasing investor confidence in VRFB technology for stabilising the grid and integrating long-duration renewable energy. The company is also in talks with renewable energy developers and industrial clients to deploy up to 1,000 MWh of VRFB systems in the coming years.
