Battery Maker Cygni Energy raises $12.5 Mn, to set up new manufacturing facility
Image Credit: Inc42
Hyderabad-based lithium-ion (Li-ion) battery pack maker manufacturer Cygni Energy has raised $12.5 Mn (INR 100 Cr) in a funding round which was a combination of equity and debt. While the equity funding round was led by Meridian Global Ventures, the debt round was led by the Indian Overseas Bank. The startup plans to use the fresh funds to fuel product development and business growth.