Battery technology startup EMO Energy has raised ₹59 crore (around $6.2 million) in a pre-Series B funding round, taking its post-money valuation to ₹860 crore (about $90 million). The latest funding marks a major milestone for the company, as its valuation has increased 4.3 times from ₹202 crore during its previous Series A round.
The fundraising comes at a time when India’s electric vehicle (EV) market is growing rapidly. With rising EV adoption and increasing demand for advanced battery solutions, investors are showing strong interest in companies building technology for the sector. Industry experts also believe this round could be part of a larger fundraising exercise, which means the company’s valuation could change if more capital is raised in the future.
Raghav Capital Leads the Funding Round
According to regulatory filings, EMO Energy’s board approved the issue of 2,048 pre-Series B compulsory convertible preference shares (CCPS) in two tranches. These shares were issued at a price of ₹2.89 lakh each, helping the company raise a total of ₹59 crore.
Raghav Capital led the funding round with an investment of ₹24 crore. Maiuni Ventures LLP followed with ₹20 crore. Existing investor Transition VC also participated in the round and invested an additional ₹6.5 crore.
Other investors included MMG Realtech Private Limited, which invested ₹5 crore, and NKA Resources, which contributed ₹3.61 crore.
After the fresh share allotment, the company’s shareholding pattern saw some changes. However, co-founders Sheetanshu Tyagi and Rahul Patel continue to be the largest individual shareholders, holding 16.79% stake each.
Transition VC remains the largest external investor with an 11.63% stake in the company. Among the new investors, Raghav Capital now owns 2.79%, while Maiuni Ventures LLP holds 2.33%. MMG Realtech Private Limited and NKA Resources own 0.58% and 0.42%, respectively.
Revenue Nearly Triples in FY25
EMO Energy has reported strong growth in its business over the past year. The company’s operating revenue increased nearly three times to ₹14.42 crore in FY25, compared to ₹4.98 crore in FY24.
The growth reflects rising demand for the startup’s battery technology and energy management solutions in the electric mobility sector. As EV adoption continues to grow across the country, companies offering innovative battery solutions are attracting both customers and investors.
At the same time, EMO Energy is still investing heavily in expanding its business. The company reported a loss of ₹7.17 crore in FY25, up from ₹4.85 crore in the previous financial year. The higher losses were mainly due to increased spending on research and development, product improvement, hiring, and manufacturing expansion.
For startups operating in the EV and deep-tech space, such investments are often necessary to build technology, improve products, and support future growth.
Funds to Support Expansion Plans
EMO Energy plans to use the newly raised capital for working capital needs, long-term capital expenditure projects, and overall business expansion.
A major focus will be scaling its proprietary AI-powered ZEN platform. The platform combines battery management systems, thermal management technology, and fast-charging capabilities to improve battery performance and efficiency.
The company aims to expand the use of its technology across electric two-wheelers, light commercial vehicles, and utility-scale energy storage applications. By using artificial intelligence to monitor and optimize battery performance, EMO Energy hopes to improve battery life, safety, and charging efficiency.
The latest funding round highlights growing investor confidence in India’s EV ecosystem and battery technology sector. With a significantly higher valuation, a stronger investor base, and ambitious expansion plans, EMO Energy is looking to strengthen its position in the country’s fast-growing electric mobility market.
As the company scales its technology and operations, its progress will be closely watched by investors and industry stakeholders in the coming years.