Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, has invested in Indi Energy, an energy storage startup committed to developing energy storage technologies such as Lithium-ion and Sodium-ion batteries, solid-state batteries, supercapacitors, etc. as a part of its seed round.
While the funding amount remains undisclosed, Indi Energy will be utilising the funds in bolstering its R&D, and scaling up its proprietary Sodium-ion battery technology.
Akash Soni, Co-founder and CEO, Indi Energy said,
“Indi Energy is on a mission to develop low-cost, safe, and high-performance sodium-ion batteries that are manufactured from agricultural waste and biowaste such as paddy straws and natural resources from the earth such as sodium, thereby reducing our dependence on scarce elements such as lithium, cobalt, and nickel which are essential components of Lithium-ion batteries.”