EV battery startup Xbattery raises $2.3 million to boost R&D
Hyderabad-based startup Xbattery just raised $2.3 million in a funding round, led by the Bipin Patel Family Office and Jhaveri Credits.
Founded last year, they're using the cash to ramp up research, hire more engineers, and develop next-generation Battery Management Systems for electric vehicles.
Xbattery is building India's 1st high-voltage BMS for electric cars
Xbattery is building India's first high-voltage Battery Management System (BMS) for electric four-wheelers, which is expected to enhance performance and safety for EVs.
They're already prototyping and source about 60% of their parts locally, with the rest coming from China and Europe.
The new funds will help them upgrade labs, buy advanced R&D gear, and grow their team faster.
With the global BMS market set to boom, they're charging ahead
Founded by Satish Reddy, Sonu Mishra, and Varshith Rao, Xbattery wants to cut down India's reliance on imported BMS tech before taking on markets in Europe and North America.
With the global BMS market set to jump from $278 million last year (2024) to $1.2 billion by 2033, they're charging ahead at just the right time.