ION Energy raises $3.6 million from Amazon's Climate Pledge Fund

02 Jul 2021 CW Team

ION Energy, an advanced battery management solutions provider, has announced that it has raised $3.6 million in Pre-Series A funding.

The funding was raised from Amazon's Climate Pledge Fund, a $2 billion fund to support companies that develop sustainable technologies. Climate Capital, Riso Capital, YourNest Venture Capital, Venture Catalyst, and other angel investors also participated in the funding round.

The company said that the funding would be used to enhance team strength, invest in product development, and expand its software business in North America and Europe. The investment would also help battery management company ION Energy to serve its order pipeline worth over $15 million.

As a part of the round, Anup Menon, Head of Strategy and Emerging Technology at Bank of America, would join the company's Board of Directors.

According to ION, it currently has over 75 consumers in the mobility and energy industry across 15 countries, including France, India, Spain, and the United States. The firm develops smart battery management platforms that help proprietary algorithms increase battery life and performance. Customers of ION have deployed 60,000 smart battery management systems in electric vehicles and stationary storage systems.

In 2017, ION Energy raised an undisclosed amount of angel funding from a group of investors and other individual investors, according to Mercom. The company has also joined hands with esVolta to enhance the operational efficiency of esVolta's utility-scale battery energy storage products.

Earlier, Mercom said that Amazon had issued a $1 billion sustainability bond to fund ongoing and new projects in five major green spheres – renewable energy, sustainable buildings, clean transportation, affordable housing, and socio-economic advancement and empowerment.

Image Source

Also read: Sterling & Wilson Solar incurred Rs 2.9 bn losses in FY21

Also read: UP electricity body asks UPPCL to pay Rs 7,244 cr in regulatory fund

ION Energy, an advanced battery management solutions provider, has announced that it has raised $3.6 million in Pre-Series A funding. The funding was raised from Amazon's Climate Pledge Fund, a $2 billion fund to support companies that develop sustainable technologies. Climate Capital, Riso Capital, YourNest Venture Capital, Venture Catalyst, and other angel investors also participated in the funding round. The company said that the funding would be used to enhance team strength, invest in product development, and expand its software business in North America and Europe. The investment would also help battery management company ION Energy to serve its order pipeline worth over $15 million. As a part of the round, Anup Menon, Head of Strategy and Emerging Technology at Bank of America, would join the company's Board of Directors. According to ION, it currently has over 75 consumers in the mobility and energy industry across 15 countries, including France, India, Spain, and the United States. The firm develops smart battery management platforms that help proprietary algorithms increase battery life and performance. Customers of ION have deployed 60,000 smart battery management systems in electric vehicles and stationary storage systems. In 2017, ION Energy raised an undisclosed amount of angel funding from a group of investors and other individual investors, according to Mercom. The company has also joined hands with esVolta to enhance the operational efficiency of esVolta's utility-scale battery energy storage products. Earlier, Mercom said that Amazon had issued a $1 billion sustainability bond to fund ongoing and new projects in five major green spheres – renewable energy, sustainable buildings, clean transportation, affordable housing, and socio-economic advancement and empowerment. Image Source Also read: Sterling & Wilson Solar incurred Rs 2.9 bn losses in FY21 Also read: UP electricity body asks UPPCL to pay Rs 7,244 cr in regulatory fund

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Building Material

13 Oct 2025

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

Infrastructure Urban

13 Oct 2025

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..