Nyobolt, a pioneer of ultrafast charging technologies, announced it has raised $30 million in funding, led by IQ Capital and Latitude (the sister fund of LocalGlobe), with strategic partners including Scania Invest and Takasago Industry.
This funding round raises the total to $100 million, and it will accelerate the advancement of Nyobolt’s proprietary technology, fuel market expansion, grow its team, and enhance its position as the industry leader in ultra-fast power systems.
Power-intensive sectors such as AI automation, heavy-duty transport, and data centers are under increasing pressure to cut emissions while keeping systems running 24/7. At the same time, only 20% of solutions across these sectors are electrified while data center outages alone average $9,000 per minute in lost revenue.
New GPU-powered AI data centers are transforming the quality of life for nearby communities, threatening billions in damages. These pressures will only worsen as AI pushes global power demand up by 165% by 2030.
Nyobolt’s energy storage and fast-charging technologies address this issue and set the new industry standard. By offering up to 20 times more power, charging in minutes, and reducing downtime for even the most power-intensive applications to zero, Nyobolt enables peak performance without compromise. It does this by using fewer natural resources than traditional lithium batteries.
At the center of this breakthrough is Nyobolt’s proprietary anode material. Born out of groundbreaking cell chemistry research, Nyobolt’s systems can reach higher power density and supercharging capabilities without degradation, overcoming the most critical limitations of conventional technologies.
Nyobolt’s solutions are deployed in AI-powered warehouses and heavy-duty vehicle applications. And the company closed 2024 with $9 million in revenue and made history as the first to successfully charge an electric car battery to 80% in under five minutes.
The company is now positioned to triple its revenue figures, with over $150 million in contract value already secured. To meet unprecedented AI data centre power demand, the company is currently developing high-density power systems to address the 10-fold power requirements driven by such AI growth. These solutions will help power the data centre industry, which is on track to be worth $500 billion within five years.
KEY QUOTES:
“The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, 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.”
- Sai Shivareddy, Co-Founder and CEO of Nyobolt
“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 they have 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, they are in prime position to become the backbone of critical AI infrastructure. We’re continuing to support Sai and the Nyobolt team as they take on this ambitious challenge not just as a company but the whole energy sector.”
- Max Bautin, Co-Founder and Managing Partner at IQ Capital
“Charging an EV to 80% in under five minutes is headline-worthy. But Nyobolt isn’t chasing headlines — they’re 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.”
- Ash Arora, Partner at Latitude
“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. Their 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.”
- Jessica Persson, Head of Venture Capital and M&A at Scania
