Deep tech battery startup Log9 said it had raised $40 million on Monday as part of a Series B funding round led by Amara Raja Batteries Ltd and Petronas Ventures.

Backed by recent investments, Log9 aims to address safety, reliability and performance challenges by investing further in cell and pack technology.

Dr Akshay Singhal, Founder and CEO of Log9, said: “This latest round of investment will enable us to increase our battery manufacturing capacity to 2 GWH by the end of 2024 and enable India’s first fully integrated lithium-ion battery production line.”

He said more than Rs 100 crore would be invested in advancing the cell and pack technology stack.

“We will also actively pursue pilots in overseas markets in the coming quarters, focusing on tropical regions,” Singhal added.

Log9 was founded in 2015 by Dr Singhal, Kartik Hajela and Dr Pankaj Sharma and held more than 70 patents.

Its line of batteries promises 9x faster charging, 9x longer battery life, and 9x better performance and safety.