Log 9 Materials, an advanced battery-tech startup, has raised $2 million in a new round led by Malaysia-based Petronas Ventures.
The new round comes just after two months, when the Bengaluru-based startup raised $8.5 million in its Series A+ round led by Amara Raja Batteries. Log 9 said it has concluded its Series A+ round of $10 million, with the fresh capital raise.
The fresh capital along with the previously raised funds will be used to launch and ramp up its insta charge network of electric vehicles, said Log 9 Materials in a press release.
Founded in 2015, Log 9 focuses on Graphene Nanotechnology for B2B and B2C clients. The company, which is also a part of the second batch of Sequoia’s accelerator program Surge, had previously raised Rs 3 crore in 2018.
Log 9 has said it will launch its rapid-charging batteries commercially this month, with an aim to deploy 5,000 vehicles utilising its technology in the upcoming six months.