Nyobolt Surges Forward with £23m Funding Round
Deal News | Apr 16, 2025 | Business Cloud
Nyobolt, a company specializing in high-power ultrafast charging technologies, has secured £23 million in funding, vital for its operations as it previously warned of potential closure due to financial constraints. This funding boosts the total raised to over £75 million and sets the stage for the advancement of its technology, market expansion, team growth, and solidification of its leadership in the ultra-fast power systems industry. The successful funding round was led by IQ Capital and Latitude, with notable backers such as Scania Invest and Takasago Industry. Nyobolt's technologies promise significant advancements in energy storage and fast-charging capabilities, boosting power delivery by up to 20 times and achieving record-breaking electric car battery charging times. With co-founder and CEO Sai Shivareddy at the helm, Nyobolt is positioned to triple its revenue and cater to the increasing global demand for power driven by AI infrastructure and decarbonization needs.
Sectors
- Energy Technology
- Venture Capital
- Automotive
Geography
- United Kingdom – Nyobolt is based in Cambridge, UK, and the funding announcement pertains to a British company operating internationally.
Industry
- Energy Technology – Nyobolt operates in the energy sector, focusing on high-power ultrafast charging technologies which are vital for enhancing energy storage solutions and reducing charging time.
- Venture Capital – The funding round led by IQ Capital and Latitude is a classic example of venture capital investment, where funds are injected into innovative companies with potential for high growth.
- Automotive – Nyobolt's technology has significant implications for the automotive industry, particularly in the realm of electric vehicle battery charging.
Financials
- £23 million – The amount raised in the recent funding round for Nyobolt.
- £75 million – The total funding raised by Nyobolt to date.
- $9 million – Nyobolt's revenue for the year 2024.
- $150 million – The contract value Nyobolt has secured, underpinning its future revenue projections.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nyobolt | Target Company | Company | A Cambridge-based firm specializing in high-power ultrafast charging technologies. |
| IQ Capital | Investor | Company | A leading venture capital firm that has led the recent £23m funding round for Nyobolt. |
| Latitude | Investor | Company | A sister fund of LocalGlobe, participated in the Nyobolt funding round. |
| Scania Invest | Strategic Partner | Company | A strategic partner in the funding round for Nyobolt. |
| Takasago Industry | Strategic Partner | Company | A strategic partner in the funding round for Nyobolt. |
| Sai Shivareddy | Co-founder and CEO | Person | Co-founder and CEO of Nyobolt, overseeing its strategic direction and operations. |
| Max Bautin | Co-founder and Managing Partner | Person | Co-founder and Managing Partner at IQ Capital, supporter of Nyobolt's growth. |