Mumbai-based electric vehicle (EV) solutions company Neuron Energy has raised ₹310 million (~$3.47 million) in a pre-series B round to expand its battery manufacturing capacity.

The funding was led by Equanimity Ventures, Rajiv Dadlani Group, Thackersay Family Office, Chona Family Office, along with participation from some reputed family offices and high-net-worth individual investors.

The funding will be utilized to expand Neuron Energy’s battery manufacturing capacity to 3 GWh. It will also be used to establish a fully automated facility for electric four-wheelers and buses at Chakan, Pune,

The funding will help strengthen the company’s research and development capabilities and accelerate its domestic growth.

The company also intends to expand its footprint in international markets and enter the heavy vehicle segment.

Neuron Energy said it is confident of achieving sales of over ₹9 billion (~$100.7 million) and robust profitability over the next few years.

With the completion of this round, the company has raised a cumulative funding of ₹800 million (~$8.95 million).

The company offers a wide range of mobility solutions powered by advanced lithium-ion technologies and is actively expanding into next-generation sodium-ion solutions.

It manufactures lithium-ion batteries for two-wheelers, three-wheelers and electric tractors, golf carts, drones, cleaning machines, forklifts, and cycles.

According to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard, EV sales in India reached 560,637 units in the third quarter (Q3) of 2025, an over 12.5% year-over-year increase from 497,974 units. EVs accounted for 8% of overall automobile sales, totaling 5,796,216 units in Q3. India now has over 7.02 million registered EVs.

Boosting EV sales in the state, the Maharashtra state government announced a range of incentives across categories for the purchase of EVs under the Maharashtra Electric Vehicle Policy for 2025. The policy aims to have one in three registered vehicles be an EV by 2030.

In July 2025, the Ministry of Heavy Industries issued a notification for the PM Electric Drive Revolution in the Innovative Vehicle Enhancement program, offering demand incentives for electric trucks. The incentives range from ₹270,000 (~$3,147.59) to ₹9,60,000 (~$10,841.69).