EV battery startup Log9 has raised $40 Mn funding in its Series B round - Updates
The funding round, which was a mix of equity and debt, was led by Amara Raja Batteries Ltd and Petronas Ventures
Their Aluminium fuel cells need a bit of reading and digesting to get a good comprehension, and I'm not saying I have got it fully, but that there's apparently only one another company in the world (in Israel) that is experimenting with the same concept implies that there is a fair amount of uncertainty about this technology.
When I recently spoke to some of the startup's representatives, they mentioned they were past the pilot stage and have started commercializing their fuel cells, and were in fact keen to interact with more OEMs keen on testing out their "batteries" in their vehicles.
The new round of funding should really help them give that big market testing push.