Investment firm Niveshaay has announced that it has led a ₹325 crore funding round in Waaree Energy Storage Systems, the energy storage arm of Waaree Group, one of India’s leading renewable energy conglomerates. The fresh capital infusion is poised to accelerate Waaree’s growth in India’s rapidly expanding battery manufacturing sector, bolstering its capacity to deliver advanced cell and battery pack solutions for both domestic and international markets.
According to the company, the funds will be strategically utilized to enhance cell and pack manufacturing capabilities, strengthen engineering and validation infrastructure, and scale the production of containerised Battery Energy Storage Systems (BESS) across India and select global markets. The move aligns with India’s broader clean energy and self-reliance goals, particularly under the government’s “Make in India” and “Energy Storage Mission” initiatives aimed at building a resilient energy ecosystem.
Niveshaay has contributed a cumulative ₹128 crore in this round through its Category II Niveshaay Sambhav Fund, Category III Niveshaay Hedgehogs Fund, and the newly launched Niveshaay WESS Fund — one of India’s first Collective Investment Vehicles (CIVs) dedicated exclusively to the energy storage space. This investment underscores Niveshaay’s growing commitment to supporting innovative, high-impact ventures within India’s clean technology and renewable energy sectors.
The collaboration between Niveshaay and Waaree Energy Storage Systems is expected to create significant value by expanding India’s footprint in battery manufacturing, energy storage integration, and sustainable power solutions. With the increasing demand for long-duration storage and grid stability solutions, the investment will enable Waaree to accelerate the deployment of scalable BESS systems capable of supporting renewable power generation and industrial energy needs.
This milestone funding round reinforces India’s ambition to become a global hub for battery manufacturing and energy storage technologies, driving the nation’s transition towards a more resilient, self-reliant, and sustainable energy future.
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