Cell Propulsion, a mobility technology company based out of Bengaluru, announced that it has raised pre-Series A funding led by growX ventures and Micelio. Existing investor Endiya Partners also participated in the funding round, as reported by YourStory.
The Bengaluru-based startup will use the funds to start deploying powertrains for electric trucks and electric buses with fleet operators, and large ecommerce and logistics providers.
Founded in 2017 by a team of former ISRO scientists – Nakul Kukar, Paras Kaushal and Supratim Naskar, Cell Propulsion designs and develops electric-drivetrains and EV components, like Battery Management System(BMS), Battery Pack and Charger – SlotTM, Telematics Module – LinkTM, Motor Controller or Drive and Motors.
The startup is working on developing integrated electric powertrains for electric buses and electric LCVs. It has also been a part of the EV accelerator program by Huddle, a leading accelerator for early-stage companies in India.
Speaking about the development, Nakul Kukar, Founder and CEO of Cell Propulsion, said, “There are multiple fundamental challenges that have limited the large-scale adoption of electric commercial vehicles. We are focussed on solving these issues to enable seamless fleet electrification and this investment will allow us to obtain all required certifications and begin deploying our solutions. This investment also sets us up for building a strong foundation for the company with a compelling story and vision.”
Commenting on the investment, Shreyas Shibulal, Founder and Director, Micelio, said, “As ecommerce deliveries continue to surge and with multiple state-level electric vehicle policies aimed at faster adoption of EVs announced recently, Cell Propulsion is well-placed to accelerate the electrification of commercial vehicles in India by reducing the capital and operational expenditure of logistics and public transportation fleets.”
“It’s been encouraging to see positive momentum for Cell Propulsion with active interest from fleet operators to transition to electric. We’re confident on their forward-looking plans which focus on leveraging the growth of ecommerce, logistics, and public transportation sectors in India,” said Huddle founding partner Ishaan Khosla.
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