Gegadyne Energy to set up lab in Mumbai, raise $5-10 mn in Series A
Author(s): City Air NewsNew Delhi, October 22, 2018: Gegadyne Energy, an Indian company spearheading battery revolution in the country is in the process of raising Series A. The company is expected to close the round between $5-10 mn before...
cityairnews
Oct 22, 2018 09:30
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New Delhi, October 22, 2018: Gegadyne Energy, an Indian company spearheading battery revolution in the country is in the process of raising Series A. The company is expected to close the round between $5-10 mn before the end of 2018. The funds will be deployed towards building a research lab to advance the company’s research.
Founded in 2015, Gegadyne energy is developing an Proprietary Battery Technology that can charge from 0-100% under 15 mins all of this while compiling to highest safety standards compared to any existing battery technology across the globe.
The technology will revolutionise the energy sector worldwide, and has the potential to make India an energy powerhouse.
Founded by Jubin Varghese and Ameya Gadiwan, two college dropouts, the company has created an Portfolio of International Patents to build an ecosystem of Electric Vehicles and Stationary Energy Storage. The company has developed high energy density supercapacitors with energy density similar to Lithium Ion batteries .
The startup’s vision is a future wherein you could drive an Electric Vehicle to a charging station with less than 1% of battery and drive out of the same within 15mins with a fully charged batteries. The experience of the EV owner should be exactly like fueling at a petrol pump. 15mins.
The Future generation will not be able to comprehend that there used to be a time wherein we used to wait for hours for the batteries to charge. Charging overnight will be an archive thing.
The startup was bootstrapped for the past two years and secured an undisclosed angel round from Mumbai Angels Network earlier this year.
“The tech is being developed completely in India for the world. The battery in Electric vehicle is the bottle neck in adoption of Electric Vehicle. We are aiming to leapfrog batteries to the next stage and thereby change the economics of Electric vehicles and everything else associated with them now and into the future.” Jubin Varghese, Co-founder of Gegadyne Energy said.
