[Funding alert] Deep tech battery technology startup Gegadyne Energy raises Series A round
Gegadyne Energy, a deep tech startup developing non-lithium based quick charging battery technology for the EV space and other battery dependent applications, on Tuesday announced that it has raised Series A funding of ~$5 million from V-Guard Industries. According to the startup, the funds raised will be utilised to scale up the research and the ramp up the business globally. A major chunk of the fund will be used to expand operations and setup a world class Battery Research lab in India a one of its kind in the country. Our technology enables to leapfrog battery technologies to the next stage and thereby change the unit dynamics of everything else associated with it." Previously, the startup raised two rounds of funding from Mumbai Angels Network.