Triolt Energy Secures ₹71 Lakh in Funding Led by Campus Angels Network
Chennai, India – November 4, 2024 – Triolt Energy Pvt Ltd, an IIT Madras-incubated startup specializing in next-generation energy storage solutions, has successfully closed a ₹71 Lakh funding round led by Campus Angels Network. This investment follows the recent ₹1.29 Crores raised from Little Angels Network and SIDBI, marking a significant up round and underscoring Triolt Energy’s rapid growth and innovation in the lithium-ion battery sector.
Triolt Energy, founded by IIT Madras alumni Raghu Sripada and Ananya Gangadharan, along with IISc Bangalore alumnus Rajesh Thomas, is at the forefront of designing and fabricating advanced lithium-ion cells. Their proprietary electrode material processing and unique cell designs aim to meet the evolving demands of electric vehicles (EVs) and other critical applications, offering solutions that enhance safety, performance, and cost-effectiveness.
Leadership Insights
Raghu Sripada, Co-Founder & CEO, Triolt Energy: “This funding will accelerate our efforts to bring our cutting-edge lithium-ion cells to market. Our incubation at IIT Madras Incubation Cell, along with invaluable mentorship from Prof. Ashok Jhunjhunwala, has equipped us to drive innovation in energy storage technology. With this investment, we are well-positioned to address the key challenges of fast charging, high discharge rates, and long cycle life, making EVs more accessible and reliable.”
Chandran Krishnan, Managing Director & CEO, Campus Angels Network: “Triolt Energy’s innovative approach, backed by their strong foundation at IIT Madras, aligns perfectly with our investment philosophy. We believe their advanced energy storage solutions will play a crucial role in the future of mobility and renewable energy, and we are excited to support their journey toward transforming the industry.”
Building Momentum for Business Growth
This investment will support Triolt Energy’s scale-up in production, further technology validation, and initial deployment to select customers. By pioneering next-generation lithium-ion cells, Triolt Energy aims to enhance its proprietary technologies, enabling faster EV adoption, reducing charging time from six hours to 15 minutes, and extending battery life by 1.5 times. These efforts will propel the industry toward more efficient and sustainable energy practices.
