The electric vehicle (EV) sector is witnessing a significant transformation, driven by innovations in battery technology. One standout player in this field is Clean Electric, a Pune-based startup that recently secured $6 million in Clean Electric funding. This investment, co-led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, signals confidence in Clean Electric’s mission to revolutionize energy storage solutions for electric vehicles and grid applications.
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Clean Electric’s Vision and Growth
Founded in 2016 by IIT-BHU graduates Akash Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric has made impressive strides in developing advanced battery technologies. The company’s patented rapid charging technology allows electric vehicles to be fully charged in under 12 minutes—a remarkable improvement over the standard charging times of 40 minutes or more. This innovation is critical in addressing the convenience and cost challenges associated with EV adoption.
Key Features of Clean Electric’s Technology
- Rapid Charging: Fully charged EVs in under 12 minutes.
- Liquid Cooling System: This system uses a patented Direct Contact Liquid Cooling (DCLC) architecture to enhance safety and efficiency.
- Cell and Chemistry Agnostic: Flexibility across various vehicle types.
Clean Electric Funding Breakdown
The recent Clean Electric funding round highlights the growing interest in EV technology and provides Clean Electric with the resources needed to expand its operations. The funds will be allocated toward:
- Research and Development: Accelerating innovation in battery technology.
- Sales and Operations Teams: Enhancing market outreach and operational efficiency.
- New Product Development: Focusing on faster charging and renewable energy storage solutions.
Funding Partners
The round saw participation from several strategic investors:
- Info Edge Ventures
- Pi Ventures
- Kalaari Capital
- Lok Capital
Industry Impact
With the EV market in India still in its nascent stages, Clean Electric aims to change the game by focusing on practical solutions to current challenges. The startup works with around 12 electric vehicle OEMs and plans to extend its technology to electric four-wheelers and commercial vehicles in the next 12 to 18 months.
Future Goals
Clean Electric aims to achieve an annual run rate (ARR) of nearly $10 million by September next year, up from its current ARR of $1.2-1.5 million. This ambitious target reflects the startup’s commitment to scaling its operations rapidly, bolstered by the recent Clean Electric funding.
Quotes from the Founders and Investors
Akash Gupta, co-founder and CEO of Clean Electric, shared his thoughts on the funding:
“As a deep-tech company, we face numerous challenges, but we also achieve technological breakthroughs. Kalaari Capital has been an invaluable early-stage investor, supporting Clean Electric through both difficult and prosperous times.”
Pranav Koshal from Kalaari Capital emphasized the significance of this Clean Electric funding:
“We take pride in being the first backers of Akash, Abhinav, and the Clean Electric team, who have consistently demonstrated passion and commitment to innovation.”
Chinmaya Sharma, Partner at Info Edge Ventures, remarked:
“Reliable batteries that can be charged quickly without a decline in cycles and range is a key example. Clean Electric’s current suite of products and technical prowess make them a key contender to solve this at a national, possibly global, scale.”
Competitive Advantages
Clean Electric’s approach to leveraging existing Li-ion cells, coupled with its proprietary hardware and software, positions the company favorably against competitors. By focusing on immediate improvements rather than waiting for future advancements in battery materials, Clean Electric is making substantial contributions to energy storage solutions.
Comparison of Charging Times
| Vehicle Type | Current Charging Time | Clean Electric Charging Time |
| Electric Two-Wheelers | 40 minutes | Under 12 minutes |
| Electric Three-Wheelers | 60 minutes | Under 12 minutes |
| Electric Four-Wheelers | TBD | Under 12 minutes (projected) |
Conclusion
Clean Electric funding is a significant milestone in the journey toward cleaner energy solutions in India. With a focus on fast-charging technology, the startup is well-positioned to lead the charge in the electric vehicle market. As it continues to innovate and expand, the impact of Clean Electric funding will be felt not just in India, but potentially on a global scale as well.
Final Thoughts
The electric vehicle sector holds immense potential for growth and innovation. As Clean Electric pushes the boundaries of battery technology, the support from investors and the commitment from its team will be crucial in shaping a sustainable future. With Clean Electric funding paving the way for advancements in battery solutions, the future of electric mobility in India looks promising.
In this transformative journey, Clean Electric is not just participating in the EV revolution; it is helping to lead it. Clean Electric funding will play a vital role in achieving this vision.
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