Hyderabad-based deeptech startup Xbattery has raised $2.3 million in a funding spherical led by the Bipin Patel Household Workplace, with participation from Jhaveri Credit.
The corporate will use the recent capital to improve its analysis and improvement (R&D) services and develop its engineering and manufacturing groups.
“We have to buy giant tools for our R&D. We’re additionally upgrading our R&D lab and hiring extra R&D engineers,” stated Satish Reddy, cofounder of Xbattery, in an interplay with ET.
Based in 2024 by Satish Reddy, Sonu Mishra, and Varshith Rao, Xbattery is constructing a platform for next-generation Battery Administration Techniques (BMS) that assist each electrical autos and stationary purposes. The corporate stated it’s focusing notably on electrical four-wheelers that require higher-capacity battery methods.
Presently on the prototype stage, Xbattery sources about 60% of its elements, similar to capacitors and resistors, from India, with the remaining coming from suppliers in China and Europe.
The BMS market has seen investor curiosity of late. Earlier this month, Offgrid Vitality Labs raised $15 million, as reported by ET. In line with the Worldwide Market Evaluation Analysis and Consulting Group, the worldwide BMS market was valued at $278 million in 2024 and is projected to achieve $1.2 billion by 2033.
“Xbattery is creating India’s first high-voltage BMS, which goals to scale back the nation’s dependency on international merchandise… Our households have a sizeable curiosity within the power area, and we anticipate Xbattery to develop into a strategic accomplice,” stated Preet Patel, chief government officer of the Bipin Patel Household Workplace.
The corporate plans to first faucet into the home market earlier than increasing to Europe and North America.
