High-power ultrafast charging firm Nyobolt has raised $30 million in funding to accelerate its technology and expand.
The funding, which brings the total raised for the firm to $100m, will accelerate the advancement of Nyobolt’s proprietary technology, fuel market expansion, and grow its team and cement its position as the industry leader in ultra-fast power systems.
The investment, including from partner Scania Invest, will support the ongoing deployment of Nyobolt’s high-power density, fast-charging battery technology in production vehicle applications.
Following successful demonstrations using its own 35kWh EV demonstrator, achieving a 10-80% charge in just under five minutes, Nyobolt has begun deploying innovative low impedance cell design and software controls to support the electrification of high-uptime, heavy-duty vehicles.
Nyobolt’s energy storage and fast-charging technologies deliver up to 20x more power, charge in minutes and cut downtime for power-intensive applications, it said.
It’s proprietary anode material assists its technology with systems capable of reaching higher power density and supercharging capabilities, without degradation.
The company closed 2024 with $9m in revenue and made history as the first company to successfully charge an electric car battery to 80 per cent in under five minutes. It is now positioned to triple its revenue figures, with over $150m in contract value already secured.
Sai Shivareddy, Co-Founder and CEO of Nyobolt, said:
“Interest in robust, ultrafast charging solutions for vehicle applications is surging as electrification becomes more widespread. Nyobolt is making the switch viable for heavy duty vehicles that demand both high power and low downtime.
“Our vertically integrated technology is already positively impacting vehicle operators and users, 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.”
Jessica Persson, Head of Venture Capital and M&A at Scania, said:
“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. Its 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.”
Max Bautin, Co-Founder and Managing Partner at IQ Capital, said:
“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 it has 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, it is in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as it takes on this ambitious challenge not just as a company but the whole energy sector.”
Ash Arora, Partner at Latitude, said:
“Charging an EV to 80% in under five minutes is headline-worthy. But Nyobolt isn’t chasing headlines — it’s 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.”
Image courtesy of Nybolt
