Energy tech start-up ION Energy raises $3.6 mn from Amazon, Climate Capital and others

Energy tech start-up ION Energy on Thursday said it has raised USD 3.6 million from a clutch of investors, including global e-commerce giant Amazon's Climate Pledge Fund.

Amazon was joined by Silicon Valley-based Climate Capital, early-stage investor YourNest Venture Capital, Riso Capital, Venture Catalysts, and other angel investors in the pre-series A funding round, as per an official statement.

"Globally, we believe 2021 will be the inflection point for the new energy transition as both companies and governments come together towards reducing carbon emissions. At ION, we're confident that advanced electronics and software that help enterprises accelerate this transition will become mission-critical to meet our goals of a zero-carbon future," Akhil Aryan, co-founder and chief executive of the company, said.

Anup Menon, head of strategy and emerging technology at Bank of America, will join ION's board of directors as part of the funding round.

The 2016-founded company is into building advanced electronics and software platforms for new energy enterprises, and headquartered in India's financial capital and has offices in France and the US.

The funds raised will be utilised to grow the team to 125 from the current 70 people, investment in product development and expanding the software business in North America and Europe, it said.

The company works with over 75 customers in the mobility and energy industry across 15 countries, including India, France, Spain and the US.

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