Cambridge-based Nyobolt, a company that offers high-power batteries and ultrafast charging technologies, has secured $30M (nearly €26.42M) in funding. This brings the company’s total raised capital to $100M (nearly €88M).
The round was led by IQ Capital and Latitude, with participation from Scania Invest and Takasago Industry.
Max Bautin, co-founder and Managing Partner at IQ Capital, says, “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.”
High-power batteries with ultrafast charging times
Sectors such as AI automation, transport, and data centres face growing demand to reduce emissions while operating continuously. Despite this, only 20 per cent share—about one-fifth—of solutions in these areas are currently electrified.
Downtime in data centres results in large financial losses, and new AI data facilities are causing disruptions in surrounding areas, with the potential for significant damage. Energy demand is expected to rise sharply, with a projected 165 per cent increase by 2030 due to AI.
Nyobolt is addressing these challenges through its energy storage and charging systems. Founded in 2019, the company’s technology supports increased power output, faster charging, and reduced system stoppages, while using less material than standard lithium batteries.
Nyobolt’s systems are built on its own anode material, developed through research in cell chemistry. This allows for consistent performance without decline over time. Its solutions are already in operation across AI-focused warehouses and transport use cases.
In 2024, the company earned $9M in revenue and was the first to charge an electric car battery to 80 per cent in under five minutes. With contracts valued at over $150M, it expects to triple its revenue figures.
To support rising power needs from AI data centres, Nyobolt is creating systems designed to handle demand levels that are 10 times higher, contributing to the development of a data centre market projected to reach $500B within five years.
Sai Shivareddy, co-founder and CEO of Nyobolt, says, “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.”
Capital utilisation
Nyobolt plans to use the investment to develop its proprietary technology, increase its market presence, expand its workforce, and strengthen its industry role.
Ash Arora, Partner at Latitude, says, “Charging an EV to 80 per cent 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.”
Jessica Persson, Head of Venture Capital and M&A at Scania, adds, “At Scania, we invest in companies that support the shift towards a more sustainable transport system. That’s why we’re excited to announce our investment in Nyobolt, a pioneer in high-power, fast-charging solutions.”
“Their breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for the electrification of heavy-duty transport, industrial applications, and AI-powered infrastructure.”
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