Nyobolt has secured $30 million in funding as demand for high-power energy solutions increases with AI growth.
Takeaway Points
- Nyobolt has secured $30 million in funding.
- The funding was led by IQ Capital and Latitude, Scania Invest, and Takasago Industry.
- It is now positioned to triple its revenue figures, with over $150 million in contract value already secured.
Nyobolt AI Power Demand
Nyobolt, the pioneer of high-power ultrafast charging technologies, said on Wednesday that it has raised $30 million in funding, led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry. The funding, which brings the total raised to $100 million, will boost the advancement of Nyobolt’s proprietary technology, fuel market expansion, grow its team, and cement its position as the industry leader in ultra-fast power systems.
According to the firm, it enables peak performance without compromise while using fewer natural resources compared to traditional lithium batteries.
Sai Shivareddy, Co-Founder and CEO of Nyobolt, commented, “The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions.”
Max Bautin, Co-Founder and Managing Partner at IQ Capital, remarked, “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business. In just a few short years they have become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, they are in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge not just as a company but the whole energy sector.”
Other Comments
Ash Arora, partner at Latitude, said, “Charging an EV to 80% in under five minutes is headline-worthy. But Nyobolt isn’t chasing headlines —they’re building the backbone of the AI-powered future. Born out of Cambridge brilliance and scaled with world-class execution, this team is redefining what’s possible in energy globally. As power grids strain under AI’s explosive demand, Nyobolt is the only company turning deeptech into deep impact — fast.”
The Funding
Based on the report, the company ended 2024 with $9 million in revenue and made history as the first company to successfully charge an electric car battery to 80 percent in under five minutes. It is now positioned to triple its revenue figures, with over $150 million in contract value already secured.
To meet new AI data center power demand, the company said that it is currently developing high-density power systems to tackle the 10x power requirements driven by such AI growth. These solutions will aid in powering the data center industry as it is on track to be worth $500 billion within five years.
