IAN Group, described as the country’s single largest early-stage investment platform, has led a ₹27.4 crore seed funding round in cleantech startup e-TRNL Energy through its second venture capital fund, IAN Alpha Fund. The round also saw participation from Navam Capital, Speciale Invest, and other investors.
Founded in 2021 by Apoorv Shaligram (Co-founder & CEO) and Dr. Uttam Kumar Sen (Co-founder & CTO), e-TRNL Energy focuses on next-generation battery cell technology. The founding team brings strong technical expertise. Apoorv has over a decade of experience in lithium-ion research, cell fabrication, EV battery design, and scaling cell technologies in India, along with multiple publications in energy storage. Dr. Sen, a PhD in Energy Science & Engineering, has more than 2,700 academic citations and deep experience in lithium-ion cell development and materials engineering.
Rethinking Battery Cell Architecture
Unlike many global players that focus on incremental improvements in battery chemistry within traditional cell formats, e-TRNL Energy is redesigning the core cell architecture and manufacturing process. The company states that its new design enables safer batteries with lower heat generation, faster charging, longer lifespan, and higher energy density, while also improving manufacturing economics.
The fresh capital will be used to complete product development, validate safety and performance, and demonstrate manufacturing capabilities in India. The company has already established a 20,000 sq. ft. R&D and early manufacturing facility in Bengaluru for testing and scale-up. It has received two patents for its battery cell design and has filed additional patent applications.
Expansion Plans and Product Roadmap
e-TRNL Energy plans to set up a 250 MWh pilot manufacturing facility by 2027, with future expansion to 2 GWh capacity. Its first product will use LFP (Lithium Iron Phosphate) chemistry, followed by plans to develop LMFP and Sodium-ion batteries. The company intends to supply cells to battery pack manufacturers serving electric mobility and
Apoorv Shaligram, Co-founder & CEO, e-TRNL Energy, said, “Over the past three years, we’ve created a ground-breaking battery cell design and built precise machines and processes needed to realize it. With this funding round, we move towards demonstration, testing, and scaling our innovation for commercialization. Beyond positioning India as a leader in energy storage innovations, these efforts will also strengthen our resilience against global supply chain vulnerabilities in these changing times.”
Rajnish Kapur, Managing Partner, IAN Alpha Fund, said, “India’s energy transition will depend not just on adopting batteries, but on owning core cell design and manufacturing capabilities. What stood out with e-TRNL Energy was their first-principles rethink of cell architecture and manufacturing, rather than incremental upgrades to legacy designs. This integrated approach tackles performance, safety, heating, and cost together, which is exactly the kind of deep-tech innovation we back at IAN.”
With India’s battery cell market expected to reach nearly 400 GWh annually by 2035, the company aims to reduce reliance on imported cells and equipment by building an indigenous battery design and manufacturing platform.
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