The Series A round was led by IQ Capital with backing from Cambridge Enterprise and Silicon Valley investors.
"Nyobolt batteries remove the limitations presented by conventional lithium-ion batteries. They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery technology and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries."
— Sai Shivareddy, Co-founder and Chief Executive Officer
Saudi Aramco Energy Ventures led the $5m round to support international expansion and technological development.
"We welcome this exciting collaboration with Saudi Aramco Energy Ventures as we step up the global response to CUI through the adoption of digital solutions. This investment demonstrates a surge of confidence from the sector in the use of real-time data systems that will accurately predict leakages and the onset of structural failure. With the worldwide cost of corrosion at $2.5 trillion, a co-ordinated effort cannot come soon enough. CorrosionRADAR is showing that a sustainable path to increased safety and dramatically reduced costs is achievable right now, using new technology and wireless connectivity."
The funding round was supported by Morningside Ventures and new private funds.
"There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health,"
The Clean Growth Fund led the investment, which marks Gulf Oil International's first strategic move into the electric vehicle sector.
"Indra is all about technology and using it to support the journey to Net Zero. Thanks to the early investment by OVO Group, and now with the investment from the Clean Growth Fund and Gulf, we are in a very strong position to take full advantage of the growing EV market and the emergence of V2G solutions in the UK and globally."
