Clean Electric, a developer of fast-charging battery technology for electric vehicles and grid battery solutions, recently raised $6 million in a funding round led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, with participation from Lok Capital and other investors. The investment aims to enhance research and development, expand sales and operations teams, and develop new products focused on faster charging and renewable energy storage.
Founded in 2016 by IIT-BHU graduates Akash Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric is based in Pune and collaborates with around 12 electric vehicle OEMs. The startup’s proprietary rapid charging technology can fully charge electric vehicles in under 12 minutes, significantly faster than the current standard of 40 minutes to over an hour. The company is working on scaling solutions for electric two-wheelers and three-wheelers, with plans to expand into electric four-wheelers and commercial vehicles within the next 12 to 18 months.
Clean Electric’s innovations aim to address key challenges in the electric vehicle industry, such as convenience and cost, to drive wider adoption of EVs over petrol or diesel vehicles. The company has achieved an annual run rate of $1.2-1.5 million and targets nearly $10 million by next September. To date, Clean Electric has raised close to $9 million in total funding.
Chinmaya Sharma, partner at Info Edge Ventures, highlighted that there are still critical gaps in the electric mobility value chain, particularly in battery reliability and quick charging without compromising performance. Clean Electric’s technical expertise and innovative products position the company as a key player in addressing these challenges on a national and potentially global scale.