Log 9 Materials raises $2 million from Petronas Ventures

Bengaluru: Log 9 Materials, a startup building advanced lithium-ion battery and fuel cell technologies, has raised $2 million in funding from Petronas Ventures, the venture capital arm of Malaysian oil and gas giant Petronas. The investment brings to a close the company’s $10 million Series A+ round, which was led by automotive battery maker.

The company was the winner in the Top Innovator category of the most recent edition of the ET Startup Awards.

“(This investment) enables us to accelerate our ongoing mission of introducing our breakthrough InstaCharge (rapid charging) battery technology to a plethora of end-users, and in positioning Log 9 as the largest Indian player in advanced cell chemistries,” said Akshay Singhal, cofounder and CEO at Log 9 Materials.