Clean Electric, known for its cutting-edge fast-charging battery technology for electric vehicles and grid storage solutions, has secured $6 million in a recent funding round led by Info Edge Ventures, Pi Ventures, and Kalaari Capital, with additional support from Lok Capital and other investors.

The funds will drive expansion in research and development, bolster sales and operations teams, and foster the creation of innovative products aimed at faster charging and enhanced renewable energy storage.

“Our focus is on overcoming key barriers to electric vehicle adoption. We’re working towards a future where the majority of vehicle sales are electric, not petrol or diesel,” said Akash Gupta, co-founder and CEO.

Founded in 2016 by IIT-BHU alumni Gupta, Abhinav Roy, and Ankit Joshi, the Pune-based startup offers proprietary rapid charging technology that can fully charge electric vehicles in under 12 minutes, compared to the current 40 minutes to over an hour.

Addressing convenience and cost challenges is crucial to driving the EV revolution, Gupta noted.

The company is collaborating with around 12 electric vehicle OEMs and aims to extend its technology to electric four-wheelers and commercial vehicles.

“We’ve successfully commercialized electric two-wheeler battery packs and are scaling up for electric three-wheelers. Our goal is to expand our solutions to electric four-wheelers and commercial vehicles in the next 12 to 18 months,” he added.

With an annual run rate (ARR) of $1.2-1.5 million, Clean Electric targets a near $10 million ARR by next September. The startup has now raised nearly $9 million in total.

Chinmaya Sharma, partner at Info Edge Ventures, commented on the investment: “There are still critical gaps in the electric mobility value chain, both passenger and commercial. Reliable, fast-charging batteries that maintain performance are a prime example. Clean Electric’s current products and technical capabilities position them to address this challenge on a national and potentially global scale.”