Mumbai Angels Network Invests In Energy Storage Start-Up Indi Energy

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  • The start-up will be using the funds to scale up its infrastructure and business through the development of sodium-ion battery technology
  • that Indi Energy is on a mission to develop low-cost, safe, and high-performance sodium-ion batteries that are manufactured from agricultural waste and biowaste

Mumbai Angels Network, a start-up investment platform, said it has invested in an energy storage start-up, Indi Energy, for an undisclosed amount. According to the press release, the start-up will be using the funds to scale up its infrastructure and business through the development of sodium-ion battery technology.

Akash Soni, co-founder and chief executive officer (CEO), Indi Energy said that Indi Energy is on a mission to develop low-cost, safe, and high-performance sodium-ion batteries that are manufactured from agricultural waste and biowaste, thereby reducing our dependence on scarce elements such as lithium, cobalt, and nickel which are essential components of lithium-ion batteries. Indi Grid is committed to developing energy storage technologies such as lithium-ion and sodium-ion batteries, solid-state batteries, as a part of its seed round.

Battery technology for various applications

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Nandini Mansinghka, co-founder and CEO, Mumbai Angels Network added that Indi Energy’s commitment to reducing reliance on scarce resources to build its proprietary Sodium-ion battery will be a revolutionary step in the energy storage space. The start-up aims to provide battery technology for various applications including solar and wind grid storage, electric scooters and e-rickshaws, batteries for solar lights.

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