Growth16 April 2025

Nyobolt secures £22.6m from IQ Capital and Latitude to scale its ultrafast charging technology

The investment round was led by IQ Capital and Latitude to accelerate product development and market expansion.

£22.6MGrowth

Nyobolt develops ultra-fast charging energy technology and proprietary power performance solutions for autonomous machines and high-demand industrial applications. The company combines advanced battery cell design with integrated power electronics to deliver high power density and extended lifecycle performance.

Nyobolt has secured £22.6m in funding to accelerate the development of its proprietary power systems and expand its market reach. The investment round was led by IQ Capital and Latitude, with participation from LocalGlobe, Scania Invest and Takasago Industry. The company will use the capital to fuel international expansion, grow its headcount and advance its technology stack.

The fresh funding arrives on the back of commercial momentum that saw the company record over £9m in revenue for 2024 and secure more than £150m in contract value. Nyobolt previously demonstrated its technology by charging an electric vehicle battery to 80% in under five minutes, positioning the business to address surging power demands from artificial intelligence data centres and heavy-duty transport.

From the founder

"The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions."

Sai Shivareddy

Co-founder and Chief Executive Officer at Nyobolt

Investor perspective

"Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business. In just a few short years they have become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, they are in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge not just as a company but the whole energy sector."