Maxvolt Energy Secures $1.5 Million to Launch Fast-Charging Lithium-Ion Batteries

Maxvolt Energy Industries Ltd, a prominent EV battery manufacturer, has raised $1.5 million in a funding round backed by multiple angel investors. The capital will drive the development and introduction of fast-charging lithium-ion batteries, solidifying Maxvolt's commitment to advancing EV technology.

Innovative Fast-Charging Technology
Maxvolt is currently in the prototype phase of its fast-charging solution, which aims to dramatically reduce EV charging times. Phase 1 targets a charging time of 2 hours, while Phase 2 aims to bring this down to just 1 hour. The company plans to roll out this groundbreaking technology by the end of 2024, following rigorous R&D.

B2B and B2C Success
Founded in 2019 by Bhuvneshwar Pal Singh, Satendra Shukla, and Vishal Gupta, Maxvolt Energy specializes in lithium battery solutions for e-cycles, e-scooters, and e-rickshaws. The company operates across B2B and B2C segments, boasting partnerships with top EV brands like Versatile Escooters, Mantra Ebikes, Odysse, and Ormax. On the consumer front, Maxvolt serves over 1.5 lakh customers.

To enhance customer satisfaction, Maxvolt offers a 100% buyback policy, a 3-year replacement warranty, and robust after-sales support, ensuring peace of mind with every purchase.

Riding the EV Wave in India
Maxvolt's latest funding aligns with India's growing enthusiasm for EV adoption. In March 2024 alone, registrations for electric two-wheelers (E2Ws) surpassed the 1 lakh milestone, highlighting the sector's rapid growth.

CBO Satendra Shukla commented, "This investment reflects investor confidence in Maxvolt's ability to lead the charge in EV innovation. By significantly reducing charging times, we aim to enhance EV adoption and sustainability across India."