Clean Electric Secures $2.2 Million in Seed Funding to Power the Future of Electric Vehicles

In a significant boost to India’s rapidly evolving electric vehicle (EV) ecosystem, Clean Electric, an innovative energy storage solutions provider, has raised $2.2 million in seed funding. The round was led by Bengaluru-based Kalaari Capital, along with key investors like Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation. This financial backing sets the stage for Clean Electric to scale its operations and revolutionize battery technology for electric vehicles (EVs).
Innovation at the Core
Founded in 2020, Clean Electric is focused on designing and manufacturing cutting-edge battery solutions that promise safety, efficiency, and sustainability. The company’s proprietary battery technology addresses some of the most critical issues facing EV adoption today, including battery fires, long charging times, and frequent replacements.
With over 30,000 kilometers of on-road testing across various OEMs, Clean Electric‘s products have proven their durability and safety. The company’s liquid-cooled battery technology, a groundbreaking innovation, offers a safer and more efficient alternative to traditional battery systems. Notably, their batteries are 100% in contact with a coolant, minimizing the risk of fire and extending the battery life by 1.5 times, all while enabling rapid charging in just 25 minutes.

Manufacturing and Expansion Plans
The recent seed funding will enable Clean Electric to establish a manufacturing facility in Pune, with the goal of producing 5,000 battery packs per month. This step is crucial as India gears up to meet the growing demand for EVs, particularly in the two- and three-wheeler markets, as well as for battery-swapping applications.
The funds will also fuel the company’s research and development (R&D) efforts, allowing them to continue innovating in the areas of faster charging, renewable energy storage, and advanced battery-swapping solutions. Additionally, Clean Electric plans to expand its sales and operations teams to ensure the seamless delivery of its state-of-the-art products to market.

Meeting India’s EV Challenges
India’s transition to an all-electric future hinges on the development of reliable EVs and charging infrastructure. With EV penetration still under 2%, challenges like long charging times, unpredictable battery life, and safety concerns have slowed adoption. High-profile incidents of EV battery fires have further eroded consumer confidence.
Clean Electric’s commitment to safety and performance directly addresses these challenges. By offering liquid-cooled battery solutions that are compliant with the AIS-156 Phase 2 guidelines, set to be implemented in March 2023, the company is positioning itself as a leader in creating safe, reliable, and high-performing batteries for the Indian market.

A Vision for the Future
Clean Electric’s co-founder and CTO, Abhinav Roy, emphasized the company’s mission to support humanity’s transition away from fossil fuels. “Our aim is to enable mankind’s shift from fossil fuels, and batteries have been the hardest part of this transformation. By providing dependable, safe, and performant energy storage solutions, we believe we can add immense value to the EV and renewable energy ecosystems,” said Roy.
The innovations Clean Electric is pioneering could have far-reaching impacts beyond India. According to Sumeet Singh, Partner at Climate Angels, the company’s patented technology can be exported to other countries in the global south, where similar safety and performance challenges exist.

A Surge in EV Growth
Ravinder Singh, Partner at Kalaari Capital, noted that the next decade will see a dramatic surge in EVs in India, with the number of electric vehicles expected to grow from the current 1.4 million to 50 million by 2030. He highlighted Clean Electric’s potential to set new global benchmarks with its direct liquid-cooled battery packs, which offer the highest levels of safety while maximizing efficiency and lifespan.

Conclusion
Clean Electric’s recent funding and innovative approach to battery technology put it at the forefront of India’s EV revolution. As the country pushes toward a more sustainable, electric-powered future, the company’s solutions are poised to play a pivotal role in accelerating EV adoption while ensuring safety, performance, and efficiency.