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<p>Bengaluru-headquartered advanced battery and fuel cell technology company, <a href="https://www.log9materials.com/" target="_blank" rel="noopener">Log 9 Materials</a> has raised $8.5 million in Series A+ funding led by Amara Raja Batteries (<a href="https://www.amararaja.com/" target="_blank" rel="noopener">ARBL</a>), an industrial and automotive batteries manufacturer. The company has entered into an equity partnership and collaboration with Amara Raja Batteries.</p>
<p>ARBL was the anchor investor in the funding round, investing $5 million. Another $3.5 Million was raised from new and existing investors in the ongoing $10-12 million Series A+ round. Existing investors include Exfinity Ventures and Sequoia Capital India&#8217;s Surge Program.</p>
<p>Rajesh Yabaji and Chanakya Hridaya, co-founders of logistics industry Unicorn Blackbuck; Rajesh Ramaiah, partner at Premji Invest; Desikan Sundarajan, MD at Equinor and Faiz Mayalakkara, Director Investments at Emirates Investment Authority, were the strategic angels who also participated in Log 9&#8217;s Series A+ funding. AC Ventures (SEA Frontier Fund) is also one of the new investors of Log 9.</p>
<p>The funds will be utilized to expand the production capacity of Log 9&#8217;s Rapid Charging Battery technology, which is due for commercial roll-out in October 2021. Further, the fund will also be utilized to advance the start-up&#8217;s supercapacitor and aluminum fuel cell-based innovations. The company plans to set up local cell manufacturing in the niche category under the government’s performance-linked incentive program. The ‘National program on Advanced Chemical Cell (ACC) battery storage’ is launched by the government to implement ACC manufacturing facilities for electric vehicles (EV).</p>
<p>The investment will spur Log 9&#8217;s research and development work for ongoing projects. Amara Raja Batteries is expected to be the primary partner for scaling up the manufacturing operations of Log 9&#8217;s battery and fuel cell technologies.</p>
<p>Commenting on the funding, Akshay Singhal, Founder &amp; CEO, Log 9 Materials, said, &#8220;We are delighted to have ARBL as one of the anchor investors in the Series A+ funding round of Log 9. The partnership with ARBL will enable us to propel commercialization at the scale of our Rapid Charging Batteries, which will play a significant role in Log 9 becoming the frontrunner and one of the most significant Indian players in advanced cell chemistries.&#8221;</p>
<p>&#8220;In the upcoming months of 2021, we are looking to take our breakthrough rapid charging battery tech to end-users at scale. The development and advancements of our Aluminum Fuel Cells will also continue to happen, including pilots and OEM-level vehicular integrations.&#8221; He added.</p>
<p>Amara Raja Batteries&#8217; investment is part of the bold &#8216;Energy &amp; Mobility&#8217; strategy announced by the company. The strategy is to focus on new green technologies and solutions.</p>
<p>According to Vikramadithya Gourineni, Executive Director at Amara Raja Batteries, the investment aligns with the company&#8217;s plans to invest in cutting-edge technologies to accelerate its evolution towards becoming an &#8216;Energy &amp; Mobility&#8217; enterprise.</p>
<p>Gourineni said, &#8220;This will mark the first in a series of exciting developments that we plan to execute in the future.  In this fast-changing technology landscape, we do not believe in a &#8216;one-size-fits-all approach. We are convinced that there will be the scope for an interplay of multiple technology solutions for various applications.  We believe that Log 9 has made significant progress in developing various technologies that will prove very promising in emerging mobility applications. &#8221;</p>
<p>Log 9 claims its newly-developed Rapid Charging Battery Packs solve multiple challenges to expedite two and three-wheeler EV adoption in India. Log 9&#8217;s flagship Aluminum Fuel Cell technology is targeted towards long-haul electric mobility and as a zero-emission alternative to diesel generators.</p>
<p>According to Mercom Research, in Q4 2019, Log 9 Materials <a href="https://mercomcapital.com/product-category/clean-energy-reports/smart-grid-reports/" target="_blank" rel="noopener">raised</a> $3.5 million in Series A funding led by Exfinity Venture Partners and Sequoia Capital India.</p>
<p>According to Mercom Capital Group’s 1H and Q2 2021 Funding and M&amp;A <a href="https://mercomcapital.com/product/1h-q2-2021-funding-ma-report-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Battery Storage, Smart Grid, and Efficiency, VC funding in battery storage companies in 1H 2021 was up significantly with $4.4 billion compared to $536 million in 1H 2020.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Battery & Fuel Cell Company Log 9 Materials Raises $8.5 Million in Series A+ Funding

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