With the newly raised funds, Promethean plans to expand its product portfolio, scale operations, and broaden its reach across India and Southeast Asia.
Dynolt Technologies will use the funding to enhance e-mobility with high-power fast chargers and expand into solar and hydrogen energy solutions with high-frequency inverters and DC-DC converters.
The funding will help EMO Energy scale EV solutions to 100,000 vehicles, deploy 1 GWh energy storage, enhance R&D for battery software, and expand its team to meet operational demands.
The investment aims to accelerate the development of startups in clean energy and decarbonisation, aligning with Kerala's ambitious goals of achieving 100% renewable energy by 2040 and net carbon neutrality by 2050.
The Pune-based platform plans to allocate the raised capital for scaling up production, new product development, and expanding the R&D team and required equipment over the next three years.
Whether it be green hydrogen, EVs, solar energy, batteries, or renewable energy, India is becoming a major market for climate-change projects. Sovereign funds and long-term investors are eager to contribute significant sums to initiatives addressing climate concerns.