/tice-news-prod/media/media_files/2025/01/22/HubrXJttUk397s2liI4E.jpg)
Cancrie, a startup specializing in advanced nanocarbon materials for energy storage, has secured $1.2 million in seed funding. The funding will be utilized to scale production, advance research and development, and establish strategic partnerships for integrating its materials into next-generation energy storage systems.
Read More: India’s Startup Dream: How Financial Services Are Driving the Change?
Cancerie Funding
The company plans to ramp up production to manufacture 50,000 batteries per month while continuing to refine its technology. According to the company, its nanocarbon materials enhance electrochemical reactions, reduce internal resistance, and increase active material utilization by up to 14%.
These materials reportedly improve energy density by 20%, enhance charge acceptance by 60%, and extend the lifecycle of lead-acid batteries by more than 30%, all without increasing production costs. Additionally, each battery incorporating Cancrie’s technology is estimated to reduce carbon emissions by 0.25 kg of CO2. For lithium-ion hybrid batteries, energy density improvements could reach up to 50%, while lithium iron phosphate batteries may see a 15% increase.
Experts note that Cancrie’s technology could address sustainability challenges in the energy storage sector. By using agricultural waste as a raw material, the company aims to offer an alternative to traditional energy storage solutions while reducing dependency on mining and minimizing e-waste.
Dr. Akshay Jain, Co-Founder and CEO, and Mahi Singh, Co-Founder of Cancrie said in a joint statement, "Our nanocarbon materials mark a major advancement in green energy storage by delivering higher-quality batteries. Our top priority is scaling up production to meet the growing demand from our customers, and this funding has been the key enabler in achieving that goal.
Read More: Donald Trump’s Message to Entrepreneurs: Insights for Startup Founders
Cancrie specializes in developing high-performance carbon materials compatible with various battery chemistries, including lead-acid, lithium-ion, sodium-ion, and redox flow batteries. The company states that its patented technology is designed to enhance battery efficiency while maintaining affordability and supporting net-zero emission goals.
"We have seen the founders' journey from day zero, and their attempt to optimize energy storage through an innovative nanocarbon technology is crucial in the advancement of the battery tech value chain. The team's strong technical expertise, early market validation, and chemistry-agnostic material approach brings significant market potential," said Vipul Patel, Partner Seed Investing, IIMA Ventures.
Read More: Trump Swears In: What It Could Mean for Indian Businesses and Markets?
The funding will support Cancrie’s efforts to establish its presence in the competitive energy storage market as it aims to meet growing demand and adapt to the evolving requirements of the sector.
Disclaimer: This is a company/PR press release, creatively edited without altering facts. TICE is not responsible for business decisions based on this report and does not verify its accuracy.
Join Our Thriving Entrepreneurial Community
Twitter: @TiceNews | LinkedIn: TICE News | Instagram: @tice.news | Google: Leave a Review