Storage startup ION Energy gets undisclosed amount of angel funding

BENGALURU: Mumbai-based ION Energy, an energy storage startup, has received an undisclosed amount of angel funding from a clutch of investors. Sushil Jiwarajka, chairman of OMC Power, Aakrit Vaish and Swapan Rajdev, cofounders of Haptik, and executives from Times Internet, Dentsu Aegis, Salesforce and Credit Suisse, among others who participated in this funding round.

ION Energy specialises in creating a layer of infrastructure to enable the adoption of electric vehicles in India.

It leverages proprietary enhancements to the Lithiumion tech in its energy storage systems.

The funds will be used for product development and taking the product towards its formal manufacturing.

"We are an energy storage company working on two broad principles ­­ first is decoupling of energy storage systems from their applications and the other being standardisation of design such that energy storage systems can be used across a variety of applications interchangeably," said Akhil Aryan, founder of ION Energy.

ION is looking to deliver a better price per kilometre, five-six times better acceleration, 10-12 times longer life and faster charging time, compared to existing options, according to a release from the startup.