Mumbai Angels Network invests in Indi Energy
Energy storage startup India Energy has raised an undisclosed amount in startup investment platform Mumbai Angels Network as a part of its seed round.
Indi Energy will be utilising the funds in bolstering its R&D, and scaling up its proprietary sodium-ion battery technology, the company said.
The company claims to have made breakthroughs in sodium-ion batteries with its energy density three to four times better than the commercialised lead-acid batteries that are currently available in the market. The firm has also filed patents for sodium-ion batteries, having invented a high-performance sodium-ion negative electrode material from rice/paddy straw and cattle manure.