Maxvolt Energy Secures $1.5 Million in Funding from Angel Investors

Maxvolt Energy Industries Ltd, a leading name in lithium battery manufacturing, has successfully raised $1.5 million from multiple angel investors. This funding marks a significant step in Maxvolt's mission to advance sustainable energy solutions and strengthen its market leadership.

The capital infusion will enable Maxvolt to expand its R&D efforts, boost production capacity, and introduce fast-charging lithium-ion batteries, which promise to reduce EV charging times significantly. The company is in the prototype development phase, aiming to roll out a two-hour charging solution by the end of 2024, with a subsequent phase reducing the time to just one hour.

Satendra Shukla, Chief Business Officer, remarked, “This investment is a testament to our commitment to delivering eco-friendly energy solutions and cutting-edge technology. With this support, we aim to enhance accessibility to sustainable practices and reduce carbon footprints.”

Founded in 2019, Maxvolt Energy manufactures lithium battery packs for electric vehicles (EVs), energy storage systems (ESS), and medical devices. With a recorded revenue of INR 48.60 crore in the last fiscal year and a 100% CAGR, Maxvolt continues to make strides in India's green energy transition.