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Exclusive: EMO Energy's valuation jumps 4.3X to Rs 860 Cr in pre-Series B round

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Exclusive: EMO Energy's valuation jumps 4.3X to Rs 860 Cr in pre-Series B round

Energy-tech startup EMO Energy has raised Rs 59 crore ($6.2 million) in a pre-Series B funding round led by Raghav Capital, with participation from Maiuni Ventures LLP, Transition VC, NKA Resources, and MMG Realtech Private Limited.

The Bengaluru-based company had previously secured $6.2 million in a Series A round led by Subhkam Ventures, with participation from Transition VC, in January last year.

The board of EMO Energy has approved the issuance of 2,048 pre-Series B compulsory convertible preference shares (CCPS) in two tranches at an issue price of Rs 2.89 lakh per share to raise the aforementioned amount, according to regulatory filings accessed by Entrackr.

Raghav Capital contributed Rs 24 crore in the round, followed by Maiuni Ventures LLP with Rs 20 crore. Existing investor Transition VC invested Rs 6.5 crore, while NKA Resources and MMG Realtech Private Limited put in Rs 3.61 crore and Rs 5 crore, respectively.

According to Entrackr estimates, the funding has valued EMO Energy at Rs 860 crore (around $90 million) post-money, a 4.3X jump from its Series A valuation of Rs 202 crore. The proceeds will be used for working capital requirements, capital expenditure, and expansion plans.

Founded in 2022 by Sheetanshu Tyagi and Rahul Patel, EMO Energy develops AI-powered battery systems for electric mobility and energy storage applications. Its proprietary ZEN platform integrates battery management, thermal management, and fast-charging technologies to enhance the safety, performance, and lifespan of EV batteries. The company caters to the EV ecosystem across two-wheelers, commercial vehicles, and energy storage segments.

Following the allotment, Transition VC remains the largest external shareholder with an 11.63% stake. New investor Raghav Capital holds 2.79%, while Maiuni Ventures LLP, MMG Realtech Private Limited, and NKA Resources own 2.33%, 0.58%, and 0.42%, respectively. Co-founders Sheetanshu Tyagi and Rahul Patel continue to be the largest individual shareholders with 16.79% stake each.

EMO Energy is yet to file its FY26 financial statements. In FY25, its operating revenue grew 2.9X to Rs 14.42 crore from Rs 4.98 crore in FY24, while losses increased 48% to Rs 7.17 crore from Rs 4.85 crore during the same period.



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