Nyobolt, a U.K.-based fast-charging Li-ion battery solutions developer, has raised $60 million in a Series C funding round, bringing the company’s valuation to $1 billion.

The company plans to use the proceeds to expand its development pipeline and commercialize its battery solutions for autonomous machines and AI data center infrastructure.

Symbotic, an artificial intelligence-enabled robotics technology company for the supply chain, led the funding round. IQ Capital, Latitude (Phoenix Court), Scania Invest, and CBMM also participated.

Nyobolt said the investment follows a period of commercial growth, during which its revenue increased fivefold year-over-year. The company attributed the growth to rising demand from physical artificial intelligence applications and artificial intelligence data center infrastructure.

Sai Shivareddy, Co-founder and Chief Executive Officer, said, “Nyobolt is enabling the always-on, always-moving infrastructure that physical AI demands. The enterprises deploying autonomous systems at scale can’t afford downtime, swap time, or power flickers. Our technology delivers a powerful trifecta: improved performance, exceptional durability, and a more sustainable operation, enabling a new generation of machines to run harder and smarter.”

Founded in 2019, the company combines proprietary anode materials, advanced battery cell design, and integrated power electronics, which it claims will enable faster charging, increased power density, and better lifecycle performance.

Nyobolt is also expanding into India. It has signed a memorandum of understanding with the state of Rajasthan to develop more than 100 MW of off-grid artificial intelligence data centers and power management infrastructure. Nyobolt said the Rajasthan partnership could be the first step in a broader presence across multiple Indian states, with a focus on renewable energy integration and grid-independent energy storage.

In 2022, H.C. Starck Tungsten Powders, a manufacturer of tungsten powder, announced a £45 million (~$53 million) investment in Nyobolt to fund the construction of its anode manufacturing facilities and R&D centers.

This is the second battery manufacturing company to reach a valuation of $1 billion in May 2026. Recently, CMBlu Energy, a developer of organic solid flow battery technology, announced the completion of a €50 million (~$58.5 million) initial close of its Series C funding round, bringing the company’s valuation to over €1 billion (~$1.17 billion).

According to Mercom’s Annual and Q4 2025 Funding and M&A Report for Energy Storage report, VC funding in the Energy Storage sector in 2025 increased 30% YoY to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.