Blume Ventures led the $1.87 million pre-Series A funding round for battery technology startup Volt14. Other participants include Supermorpheus, Spectrum Impact, Beyond Next Ventures, and returning investor Cocoon Capital.
The Bengaluru-based startup has now raised $4.02 million in total funding.
The money raised will be utilized to grow the company’s workforce and increase production.
Animesh Kumar Jha founded Volt14 in 2019 with the goal of creating silicon-based anode materials for lithium-ion batteries. Additionally, it has created a cylindrical battery cell format in-house that shows energy density made possible by its silicon anode.
Several battery cell manufacturers are now evaluating Volt14’s technology, which it claims increases silicon content in anodes while maintaining performance levels.
Market research predicts that the growth of energy storage and the use of electric vehicles will propel the lithium-ion battery industry to surpass $300 billion by 2034.
The lead investor in this round, Blume Ventures, was also among the first to support Battery Smart, the most well-funded startup in the industry.
