Taqanal Energy Raises Rs 9.5 Cr in Pre-Series Round

The developer of cloud-connected smart modular battery energy storage Taqanal Energy has raised Rs 9.5 crore in a pre-series round from JITO Angel Network along with KITVEN, Lets Venture and Wellingdon Advisors.

Taqanal Energy is powering the shift from fossil fuels and internal combustion engines through its Intelligent Energy Storage Management System which integrates the power of embedded intelligence in the battery with cloud applications.

The company services industries across the Auto, Railways, Aerospace, Renewable Energy, Industrial, Medical, Military, Recreation, UPS Industry, Electric Vehicles spectrum.

Mohan Satyaranjan, Co-Founder of Taqanal Energy said, “JITO Angel Network helped us complete our investment goal by connecting us with specific investors interested in this sector. The fundraising process was well structured and we were able to close the round quickly. The fund will be further utilized to complete our product development and roll out our battery swapping and monitoring solutions in 2022-23.”

“There is a huge opportunity in the EV space and Taqanal Energy has evolved newer SaaS models which will help in the seamless transitioning of smarter solutions catering to this segment. We are confident that the company will create a niche for themselves in a still under penetrated and un-served market, thus bringing multiple benefits to stakeholders across the value chain” affirmed JITO Angel Network, Vice Chairman, Sunil Kumar Singhvi.

Till date JITO Angel Network has helped raise over Rs 100+ crore for over 56 companies in India.