Nyobolt raises $30M to advance high-power ultrafast charging

Nyobolt, a UK-based provider of high-power ultrafast charging technologies, has raised USD 30 million in funding, led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry. 

The funding, which brings the total raised to USD 100 million, will accelerate the advancement of Nyobolt’s proprietary technology, fuel market expansion, grow its team, and cement its position as the industry leader in ultra-fast power systems, the company said.

Power-intensive sectors like AI automation, heavy-duty transport and data centres are under increasing pressure to cut emissions while also keeping systems running 24/7.  

By 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 without compromise, according to a media release. And it does so while using fewer natural resources compared to traditional lithium batteries.

At the core of this breakthrough is the Cambridge-based start-up’s proprietary anode material, Nyobolt said.

“Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most,” Sai Shivareddy, co-founder and CEO of Nyobolt, said. “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.”

“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,” Max Bautin, Co-Founder and Managing Partner at IQ Capital, said. “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.”

“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, said. 

“[Nyobolt’s] 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, said.