Nyobolt, a high-power charging technology company, has raised US$30m in funding for the advancement of its proprietary technology, fuel market expansion and growth.
Led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry, the funding brings the total raised to US$100m.
Power-intensive sectors like AI automation, heavy-duty transportation and data centers are under increasing pressure to cut emissions while also keeping systems running 24/7. At the same time, only 20% of solutions across these sectors are currently electrified.
Nyobolt’s energy storage and fast-charging technologies aim to close this gap by delivering up to 20x more power, charging in minutes and cutting downtime to zero. Last year, Nyobolt reportedly successfully charged an electric car to 80% in under five minutes. With a proprietary anode material, the systems reach a higher power density and supercharging capabilities without degradation, using fewer natural resources compared to traditional lithium batteries. Nyobolt’s solutions have been deployed in AI-powered warehouses and heavy-duty vehicle applications.
Sai Shivareddy, co-founder and CEO of Nyobolt, said, “The world is experiencing an unprecedented demand for power, not only to decarbonize 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.”
Ash Arora, partner at Latitude, added, “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.”
Jessica Persson, head of venture capital and M&A at Scania, said, “At Scania, we invest in companies that support the shift toward a more sustainable transportation 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 transportation, industrial applications and AI-powered infrastructure.”