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ION Energy raises $3.6 Mn in pre-Series A

Battery management platform ION Energy has raised $3.6 million in its pre-Series A funding led by Amazon’s Climate Pledge Fund. Silicon Valley-based Climate Capital, YourNest Venture Capital, Venture Catalysts and other angels also participated. Earlier in 2018, the startup had raised $1.2 million in its seed round.

ION will use the funds to grow its team to over 125 from 70 at present and for product development and expanding its software business in North America and Europe.

The Akhil Aryan-led startup builds technologies that improve the life and performance of lithium-ion batteries that power electric vehicles and energy storage systems.

Its flagship offering is a smart battery management platform (BMS) that leverages proprietary algorithms to improve battery life and performance. ION’s customers have deployed over 60,000 smart BMS in electric vehicles and stationary storage systems.

The lead investor of this round, Climate Pledge was launched by Amazon in 2019 and launched the $2-billion Fund in 2020 to support firms and developing sustainable technologies. ION is the first Indian company that Amazon has supported through this fund.

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