“DeepTech into deep impact”: Nyobolt raises €26 million for high-power energy solutions

Cambridge-based Nyobolt, an innovator in high-power ultrafast charging technologies, has raised €26.3 million in funding, to advance their proprietary technology, fuel market expansion, and grow its team.

The funding was led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry – bringing the total funding raised to €87.9 million.

Sai Shivareddy, Co-founder and CEO of Nyobolt, said: “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.”

According to figures provided by Nyobolt, sectors like AI automation, heavy-duty transport and data centres are under increasing pressure to cut emissions while also keeping systems running 24/7. At the same time, only 20% of solutions across these sectors are currently electrified. Meanwhile, data centre outages alone average €8k per minute in lost revenue, while new GPU-powered AI data centres are disrupting the quality of life for nearby communities, threatening billions of dollars worth of damage.

These pressures are only set to worsen as AI pushes global power demand up by 165% by 2030.

Nyobolt’s energy storage and fast-charging technologies aim to close this gap and set the new industry standard. By reportedly delivering up to 20x more power, charging in minutes and cutting downtime for even the most power-intensive applications to zero, Nyobolt enables peak performance.

And, according to the company, it does so while using fewer natural resources compared to traditional lithium batteries.

Max Bautin, Co-founder and Managing Partner at IQ Capital, said: “Nyobolt has achieved what so few companies can do: translating DeepTech 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.”

At the core of their technology is Nyobolt’s proprietary anode material. Born out of cell chemistry research, Nyobolt’s systems are capable of reaching higher power density and supercharging capabilities, without degradation – overcoming critical limitations of conventional technologies.

The company closed 2024 with €7.9 million in revenue and was the first company to successfully charge an electric car battery to 80% in under five minutes.

According to Nyobolt, they are now positioned to triple their revenue figures, with over €131 million in contract value already secured.