March 7, 2022
April 22, 2022
min Read

Taqanal Energy raises Rs 9.50 crore in a pre-series round

Team LetsVenture

Taqanal Energy, a developer of cloud-connected smart modular battery energy storage solutions for the EV industry, has announced that the company has raised Rs 9.50 crore in a pre-series round. The investors include JITO Angel Network along with KITVEN, Lets Venture, and Wellingdon Advisors. The company’s goal is to demolish barriers to EV adoption and accelerate the transition to EVs.

Taqanal Energy is powering the shift from fossil fuels and internal combustion engines to electric vehicles through its Intelligent Energy Storage Management System. This system integrates the power of embedded intelligence in the battery with cloud applications. The company is said to service industries across the Auto, Railways, Aerospace, Renewable Energy, Industrial, Medical, Military, Recreation, UPS Industry, Electric Vehicles spectrum.

Commenting on the announcement, Mohan Satyaranjan, Co-Founder of Taqanal Energy said, “JITO Angel Network helped us complete our investment goal by connecting us with specific investors interested in this sector. The fundraising process was well structured and we were able to close the round quickly. The fund will be further utilized to complete our product development and roll out our battery swapping and monitoring solutions in 2022-23.”

Sunil Kumar Singhvi, Vice Chairman, JITO Angel Network added, “There is a huge opportunity in the EV space and Taqanal Energy has evolved newer SAAS models which will help in the seamless transitioning of smarter solutions catering to this segment. We are confident that the company will create a niche for themselves in a still under-penetrated and un-served market, thus bringing multiple benefits to stakeholders across the value chain.”

Posted by Financial Express on Mar 7 |

Team LetsVenture

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