A ₹71 lakh funding round in which Campus Angels Network will be leading the investment of incubated IIT Madras-based startup Triolt Energy Pvt Ltd has been termed a huge success for Triolt to further fuel progress in the advanced energy storage market. Adding to the most recent fund amount of ₹1.29 crore drawn in by Little Angels Network, the Small Industries Development Bank of India will also be helping it grow. With that amount, Triolt shall keep going on its highly accelerated growth path in lithium-ion batteries, and the most innovative approach shall be followed to drive that growth.
Triolt Energy develops the next-generation lithium-ion cells through design and manufacturing; it was founded by alumni Raghu Sripada and Ananya Gangadharan from IIT Madras and alumnus Rajesh Thomas from IISc Bangalore. It created new electrode materials and configurations of the cell specifically engineered to cater to growing requirements for high-performance batteries used in electric vehicles and many other critical applications. Triolt’s technology focuses on the industry’s needs in terms of safety, performance, and cost and upon improvements that will help develop faster charging, higher discharge rates, and even longer cycle life.
In this investment, Triolt could scale up production, further establish its technology, and do initial deployments with selected clients. The startup is now primed to play a lead role in efficient EV deployment through proprietary technology refinement as well as advancing lithium-ion cells. One of its goals is the drastic cuts in EV charging time—from as long as six hours to just 15 minutes. The company is thereby breaking the roads toward practical and high-performance energy solutions for accelerating sustainable future mobility and renewable energies.
The incubator has a decent track record of mentoring technology-driven startups and has supported the work of Triolt Energy. The startup aims to bring the industry closer to a low-emission, economically viable future with this new phase of production by reducing the cost of EV batteries and increasing their life span by 1.5 times.
Source: HT