Nyobolt Secures Fresh £22.6m Funding Amid AI Power Demand Surge
Deal News | Apr 16, 2025 | UK Tech Funding
Cambridge-based Nyobolt has successfully secured £22.6 million in new funding, rebounding from earlier concerns about its financial future. The funding round was led by IQ Capital and included investment from Latitude, Scania Invest, and Takasago Industry. This capital injection occurs as Nyobolt is positioned to dominate power-intensive markets such as AI and data centers. In 2023, the company posted a significant loss, but it has shown resilience with a remarkable revenue increase to $9 million in 2024, aided by secured contracts totaling $150 million. Nyobolt's vertically integrated technology aligns with shifting industry demands for fast, efficient, and environmentally-friendly energy solutions. CEO Sai Shivareddy emphasizes the crucial role of their technological advancements in addressing modern energy consumption challenges.
Sectors
- Energy Storage
- Advanced Technology
- Investment
Geography
- United Kingdom – Nyobolt is based in Cambridge, UK, and the article's focus on UK tech funding highlights this geographic context.
Industry
- Energy Storage – Nyobolt operates within the energy storage sector, focusing on fast-charging battery technology that addresses the increased power demands from AI and data centers.
- Advanced Technology – The firm's emphasis on fast-charging and efficient energy solutions aligns with the technological growth in AI infrastructure, an advanced technology sector.
- Investment – The article involves significant investment activity, with funding rounds led by firms like IQ Capital and Latitude, highlighting the private equity and venture capital sector.
Financials
- £22.6 million – The amount of funding Nyobolt raised in its latest investment round.
- $30 million – The dollar equivalent of the £22.6 million funding.
- 20.2 million – The loss recorded by Nyobolt for the year ended December 2023.
- 67,000 – Nyobolt's revenue for the year ended December 2023.
- $9 million – Nyobolt's revenue for the year 2024, marking significant growth.
- $150 million – The value of contracts Nyobolt has secured, supporting its projected revenue growth.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nyobolt | Target | Company | A Cambridge-based company specializing in fast-charging battery technology and energy storage solutions, crucial for AI and data center applications. |
| IQ Capital | Investor | Company | A UK-based venture capital firm investing in early-stage deep tech companies, leading the funding round for Nyobolt. |
| Latitude | Investor | Company | The sister fund of LocalGlobe, participating in the latest funding round for Nyobolt. |
| Scania Invest | Strategic Partner | Company | A strategic partner involved in Nyobolt's funding round, highlighting industry interest in fast-charging technology. |
| Takasago Industry | Strategic Partner | Company | Another strategic partner that contributed to Nyobolt’s latest funding round. |
| Sai Shivareddy | Co-founder and CEO | Person | Co-founder and CEO of Nyobolt, providing leadership and strategic vision. |
| Max Bautin | Co-founder and Managing Partner | Person | Co-founder and managing partner of IQ Capital, who commented on Nyobolt's business success. |