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Nyobolt, a leader in high-power, ultrafast charging technologies, has raised $30 million in funding to advance its innovative energy solutions. The investment, led by IQ Capital, Latitude (LocalGlobe’s sister fund), and strategic partners like Scania Invest and Takasago Industry, brings Nyobolt’s total funding to $100 million. This capital will drive market expansion, team growth, and the development of its proprietary technology, which is already transforming automotive, heavy-duty vehicle, and AI infrastructure sectors.
Key Highlights:
- Funding Details: $30 million raised, led by IQ Capital and Latitude, with automotive industry partners.
- Revenue Growth: Achieved $9 million in 2024 revenue, with plans to triple this figure.
- Contract Wins: Secured $150 million in contract value for fast-charge systems.
- Technology Milestone: First to charge an EV battery to 80% in under five minutes.
- Applications: Deployed in heavy-duty vehicles, AI warehouses, and expanding to other automotive uses.
- Sustainability: Uses fewer natural resources than traditional lithium batteries.
Nyobolt’s technology addresses critical barriers to electric vehicle (EV) adoption by offering high power and rapid recharge cycles. Its proprietary anode material, developed through advanced cell chemistry, delivers 20x more power and charges in minutes without degradation. This capability ensures zero downtime for power-intensive applications, setting a new industry standard. The company’s systems are now deployed in heavy-duty vehicles and AI warehouses, with growing interest from sectors like AI automation and data centers, where electrification remains low, and outages cost $9,000 per minute.
In 2024, Nyobolt made history by charging an EV battery to 80% in under five minutes, a breakthrough for heavy-duty transport and industrial applications. With $150 million in contracts secured, Nyobolt is poised to meet the rising demand for sustainable, high-performance energy solutions. CEO Sai Shivareddy emphasized the technology’s impact, stating, “Our fast-charge solutions make electrification viable for high-power applications.” As AI-driven power demand surges, Nyobolt’s innovations position it as a backbone for critical infrastructure, delivering efficiency and sustainability.
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