Month in a Minute: Top Headlines from the Indian Renewable Sector in July 2026

Solar Module Capacity Under ALMM Grows to 215.5 GW

PFC Awards Project to Evacuate 3 GW of Renewables in Andhra Pradesh

Storage, Engineering, and Service Become Distributed Solar’s Growth Drivers

Daily News Wrap-Up: MNRE Proposes Uniform Solar Cell Nomenclature

MENA Weekly Round-Up: Egypt Signs PPA with Alcazar for 407 MW Wind Project

Solar Tender and Auction Activity Declines in Q2 2026

MNRE Proposes Standardized Nomenclature for Solar Cells Under ALMM List II

India Can Build a Complete Solar Manufacturing Ecosystem Within Five Years: Interview

Green Hydrogen and Storage Key to Curbing Renewables Curtailment: Interview

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-nyobolt-raises-60-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Nyobolt, a U.K.-based fast-charging Li-ion battery solutions developer, <a href="https://mercomcapital.com/nyobolt-raises-60-million-expand-fast-charging-battery-technology/" target="_blank" rel="noopener">raised</a> $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.
Moment Energy, an electric vehicle battery repurposing company, has <a href="https://mercomcapital.com/moment-energy-raises-40-million-series-b-funding-round/" target="_blank" rel="noopener">raised</a> $40 million in its Series B funding round, bringing the total capital raised to more than $100 million. Evok Innovations led the funding round, with participation from Liberty Mutual Investments, W23 Global Fund, and Acario, the corporate venture capital arm of Tokyo Gas. The new investors join Moment Energy’s existing major investors, including Amazon’s Climate Pledge Fund, Voyager Ventures, and In-Q-Tel.
Ecofy, a non-banking financial company backed by Eversource Capital, British International Investment, FMO, and Finnfund, has <a href="https://www.mercomindia.com/ecofy-secures-15-million-from-mirova-to-support-rooftop-solar-financing" target="_blank" rel="noopener">raised</a> $15 million in debt financing from Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing. The loan proceeds will be used to support Ecofy’s onward lending to finance residential, commercial, and industrial rooftop solar installations, as well as electric mobility solutions across India.
MARS Energy Group has <a href="https://mercomcapital.com/mars-energy-acquires-two-california-roofing-solar-service-providers/" target="_blank" rel="noopener">acquired</a> California-based Solar Savings Direct, doing business as Solar and Roof Direct, and Sequoia Roofing &amp; Construction. The two acquired companies serve California homeowners and production homebuilders across roofing, solar, and battery storage projects. The company did not disclose the transaction value or the financial terms of the acquisitions.
Private equity firm, FH Capital, has <a href="https://www.mercomindia.com/fh-capital-to-acquire-75-stake-in-jinkosolars-us-subsidiary" target="_blank" rel="noopener">entered</a> into a definitive agreement to acquire a 75.1% stake in China-based solar module and cell manufacturer, JinkoSolar’s U.S. subsidiary. Post-acquisition, JinkoSolar will hold a 24.9% minority stake in its U.S. subsidiary, Jinko Solar Industries. The company did not disclose the acquisition cost.
India-based Amrut Energy, a solar water pump manufacturer and renewable energy solutions provider, has <a href="https://www.mercomindia.com/amrut-energy-merges-with-mascot-dynamics-to-scale-solar-pumps" target="_blank" rel="noopener">announced</a> its merger with Mascot Dynamics, a diversified engineering group operating in India’s oil and gas, chemical, and water infrastructure sectors. The merged company will operate as “Amrut Energy, a Division of Mascot Dynamics”.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-catl-raises-5-billion" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Nyobolt Raises $60 Million

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					</table><a href="https://www.momentenergy.com/" target="_blank" rel="noopener">Moment Energy</a>, an electric vehicle battery repurposing company, has raised $40 million in its Series B funding round, bringing the total capital raised to more than $100 million.
Evok Innovations led the funding round, with participation from Liberty Mutual Investments, W23 Global Fund, and Acario, the corporate venture capital arm of Tokyo Gas. The new investors join Moment Energy&#8217;s existing major investors, including Amazon&#8217;s Climate Pledge Fund, Voyager Ventures, and In-Q-Tel.
The funding will help expand its second-life battery manufacturing footprint in North America. Moment Energy plans to use the capital to scale specialist teams and increase production capacity across the U.S. and Canada.
Previously, in 2025, the company <a href="https://mercomcapital.com/moment-energy-secures-5-million-in-debt-funding/" target="_blank" rel="noopener">secured</a> $5 million in growth financing from TD Innovation Partners, the innovation banking division of The Toronto-Dominion Bank, to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications.
&#8220;As energy demand continues to increase, Moment Energy is focused on one mission: improving grid resilience and reducing energy costs,&#8221; said Edward Chiang, Co-Founder and CEO of Moment Energy. &#8220;We are building a new generation of energy infrastructure that can be deployed rapidly, manufactured domestically, and powered by existing battery resources.&#8221;
The company said the expansion is aimed at meeting demand from data centers, utilities, and industrial customers. It added that the funding will support the deployment of its commercial energy storage systems.
Moment Energy repurposes electric vehicle batteries for stationary energy storage applications. The company&#8217;s proprietary pack-swapping architecture is said to extend system life to 30 years, compared with 15 years for conventional systems. The company claimed that, when combined with domestic tax incentives, the system can lower net costs by up to three times and reduce cycling costs to as low as 3 cents/kWh for industrial users.
According to Mercom&#8217;s Annual and Q4 2025 Funding and M&amp;A for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding for the battery recycling sector increased by around 8% in 2025 compared to 2024.
In 2025, Renewable Metals, an Australia-based lithium-ion battery recycling company, <a href="https://mercomcapital.com/battery-recycling-company-renewable-metals-secures-8-6-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> AU$12 million (~$8.6 million) in an oversubscribed Series A funding round.

Moment Energy Raises $40 Million in Series B Funding Round

NeoVolta, a U.S.-based energy storage solutions provider, has <a href="https://cms.mercomindia.com/neovolta-to-secure-private-placement-financing/" target="_blank" rel="noopener">entered</a> into agreements for $13 million in private placement financing led by Infinite Grid Capital (IGC). The funding is structured to offer both immediate and future capital support for the company’s planned domestic manufacturing initiative and will be used to accelerate growth. A significant portion of the funding is allocated to advance this initiative, under a memorandum of understanding with third parties, to establish and operate a battery energy storage manufacturing plant in Georgia.
Moment Energy, an electric vehicle battery repurpose company, has <a href="https://cms.mercomindia.com/moment-energy-secures-5-million-in-debt-funding/" target="_blank" rel="noopener">secured</a> $5 million in growth financing from TD Innovation Partners, the innovation banking division of The Toronto-Dominion Bank. The company will use the funds to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications. To meet the growing domestic demand for its Luna BESS, the company plans to boost production.
EQORE, a distributed battery storage company, has <a href="https://cms.mercomindia.com/eqore-raises-million-seed-funding/" target="_blank" rel="noopener">raised</a> $1.7 million in an oversubscribed seed funding round. The round saw participation from Massachusetts Clean Energy Center, Henry Ford III of Ford Motor Company, and Jonathan Kraft of The Kraft Group. It also included investors such as industry operators Andrew Slifka, Mitch Coddington, and the Betti family, led by Nicholas Betti. Veteran entrepreneur Luke Merrow and tech executives Kent Helfrich and Kristin Welch, via Pointe Angels. The funding is intended to help the company expand its team and accelerate deployments at its manufacturing facilities.
Rooftop solar solutions and products company Fujiyama Power Systems <a href="https://www.mercomindia.com/fujiyama-power-systems-debuts-on-bourses-after-strong-response-to-ipo" target="_blank" rel="noopener">debuted</a> on the Indian stock exchanges after its initial public offering (IPO) of ₹8.28 billion (~$93.5 million) was oversubscribed 2.14 times. The price band was set at ₹216(~$2.4) to ₹228(~$2.6) per equity share, with a face value of ₹1(~$0.11). The IPO saw bids for 56 million shares, exceeding the 26 million shares on offer. Qualified institutional buyers led the demand, with a subscription rate of 5.15 times, followed by the employee-reserved portion at 1.47 times, and retail individual investors at 100%.
AMPYR Distributed Energy (ADE), an investor in renewable energy solutions and part of the AGP Group, has <a href="https://cms.mercomindia.com/ampyr-distributed-energy-acquires-shawton-energy/" target="_blank" rel="noopener">announced</a> the acquisition of Shawton Energy, a company that provides fully-funded solar energy solutions to U.K. businesses. The acquisition is expected to strengthen ADE’s position in the U.K. distributed energy market, further expanding its customer base and operational capabilities through Shawton’s experience and commercial relationships.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-sedgeley-solar-group-raises-60-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: NeoVolta to Secure $13 Million in Private Placement Financing

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-neovolta-to-secure-13-million-in-private-placement-financing/" target="_blank" rel="noopener">Mercom Capital Group</a>
NeoVolta, a U.S.-based energy storage solutions provider, has <a href="https://mercomcapital.com/neovolta-to-secure-private-placement-financing/" target="_blank" rel="noopener">entered</a> into agreements for $13 million in private placement financing led by Infinite Grid Capital (IGC). The funding is structured to offer both immediate and future capital support for the company’s planned domestic manufacturing initiative and will be used to accelerate growth. A significant portion of the funding is allocated to advance this initiative, under a memorandum of understanding with third parties, to establish and operate a battery energy storage manufacturing plant in Georgia.
Moment Energy, an electric vehicle battery repurpose company, has <a href="https://mercomcapital.com/moment-energy-secures-5-million-in-debt-funding/" target="_blank" rel="noopener">secured</a> $5 million in growth financing from TD Innovation Partners, the innovation banking division of The Toronto-Dominion Bank. The company will use the funds to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications. To meet the growing domestic demand for its Luna BESS, the company plans to boost production.
EQORE, a distributed battery storage company, has <a href="https://mercomcapital.com/eqore-raises-million-seed-funding/" target="_blank" rel="noopener">raised</a> $1.7 million in an oversubscribed seed funding round. The round saw participation from Massachusetts Clean Energy Center, Henry Ford III of Ford Motor Company, and Jonathan Kraft of The Kraft Group. It also included investors such as industry operators Andrew Slifka, Mitch Coddington, and the Betti family, led by Nicholas Betti. Veteran entrepreneur Luke Merrow and tech executives Kent Helfrich and Kristin Welch, via Pointe Angels. The funding is intended to help the company expand its team and accelerate deployments at its manufacturing facilities.
Rooftop solar solutions and products company Fujiyama Power Systems <a href="https://www.mercomindia.com/fujiyama-power-systems-debuts-on-bourses-after-strong-response-to-ipo" target="_blank" rel="noopener">debuted</a> on the Indian stock exchanges after its initial public offering (IPO) of ₹8.28 billion (~$93.5 million) was oversubscribed 2.14 times. The price band was set at ₹216(~$2.4) to ₹228(~$2.6) per equity share, with a face value of ₹1(~$0.11). The IPO saw bids for 56 million shares, exceeding the 26 million shares on offer. Qualified institutional buyers led the demand, with a subscription rate of 5.15 times, followed by the employee-reserved portion at 1.47 times, and retail individual investors at 100%.
AMPYR Distributed Energy (ADE), an investor in renewable energy solutions and part of the AGP Group, has <a href="https://mercomcapital.com/ampyr-distributed-energy-acquires-shawton-energy/" target="_blank" rel="noopener">announced</a> the acquisition of Shawton Energy, a company that provides fully-funded solar energy solutions to U.K. businesses. The acquisition is expected to strengthen ADE’s position in the U.K. distributed energy market, further expanding its customer base and operational capabilities through Shawton’s experience and commercial relationships.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sedgeley-solar-group-raises-60-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: NeoVolta to Secure $13 Million

<a href="https://www.momentenergy.com/" target="_blank" rel="noopener">Moment Energy</a>, an electric vehicle (EV) battery repurpose company, has secured $5 million in growth financing from TD Innovation Partners (TDIP), the innovation banking division of The Toronto-Dominion Bank.
The company will use the funds to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications. To meet the growing domestic demand for its Luna BESS, the company plans to boost production.
Repurposing batteries helps to reduce waste, reduce reliance on imported materials and first-life battery production, making renewable energy storage more sustainable and cost-effective over time.
“With TD&#8217;s backing, we&#8217;re accelerating our ability to deliver safe, reliable, and affordable storage solutions that make clean energy accessible to more communities across North America and beyond. ” We&#8217;re strengthening supply chains, improving grid resilience, and advancing the transition to sustainable power worldwide,&#8221; said Edward Chiang, CEO and Co-Founder of Moment Energy.
Recently, the company received an investment and entered into a partnership with Copec WIND Ventures, the venture capital arm of Latin American energy leader Copec. This collaboration will enable Moment Energy to deploy GWh of second-life battery projects across Latin America and Europe, further strengthening its position in circular energy innovation.
In January, the company <a href="https://cms.mercomindia.com/moment-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">raised </a>$15 million in a Series A funding. The round also had participation from In-Q-Tel (IQT), Version One Ventures, Overture Ventures, WovenEarth Ventures, Fika Ventures, MCJ, One Small Planet, and Climate Capital.
According to Mercom&#8217;s 9M and Q3 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/9m-and-q3-2025-funding-and-ma-report-for-storage/" target="_blank" rel="noopener">report</a>, announced debt and public market financing for Energy Storage technology companies decreased 44% YoY with $8.4 billion in 29 deals in 9M 2025 compared to $15 billion raised in 22 deals in 9M 2024.
In December, Aqua Metals, a lithium battery material recycling company, <a href="https://cms.mercomindia.com/battery-recycling-company-aqua-metals-secures-million/" target="_blank" rel="noopener">announced</a> the closing of a $1.5 million bridge loan to fund its lithium battery recycling operations. Over 50% of the bridge loan was funded by management and members of the Board of Directors.

Moment Energy Secures $5 Million in Debt Funding

Moment Energy, an electric vehicle (EV) battery repurposing company, <a href="https://cms.mercomindia.com/moment-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $15 million in a Series A funding round, bringing the company’s total funding raised to date to $52 million. The Amazon Climate Pledge Fund and Voyager Ventures co-led the funding round. The company provides second-life battery energy storage systems from repurposed EV batteries.
responsAbility, a Switzerland-based impact asset manager, has <a href="https://www.mercomindia.com/responsability-injects-20-million-in-ev-manufacturer-euler-motors" target="_blank" rel="noopener">announced</a> an investment of up to $20 million (₹1.7 billion) in New Delhi-based electric commercial vehicles manufacturer Euler Motors. The funding is part of responsAbility’s $500 million (₹42.5 billion) climate investment strategy to reduce CO2 emissions in Asia by supporting e-mobility solutions.
Li-Cycle, a lithium-ion battery recycling company, <a href="https://cms.mercomindia.com/li-cycle-closes-15-million-underwritten-public-offering/" target="_blank" rel="noopener">announced</a> the closing of its previously announced underwritten public offering, raising approximately $15 million in gross proceeds. The company plans to use the net proceeds from this offering for working capital and general corporate purposes. The offering consisted of 5,000,000 units and 10,000,000 pre-funded units.
Ecozen, a Pune-based company focused on clean energy solutions, has <a href="https://www.mercomindia.com/clean-energy-tech-firm-ecozen-raises-23-million-in-debt-funding" target="_blank" rel="noopener">raised</a> over $23 million in debt funding. Investors for this round included responsAbility Investments, Northern Arc Capital, and Maanaveeya Development &amp; Finance. The company plans to use the funds to scale its current businesses and expand its operations within India and abroad.
Electric vehicle charging solutions provider Bolt.Earth <a href="https://www.mercomindia.com/bolt-earth-raises-5-million-in-series-a-funding" target="_blank" rel="noopener">raised</a> $5 million in a series A+ funding round. The funding round was led by Version One Ventures, a new investor and returning investors USV and Prime Venture Partners. Bolt.Earth plans to utilize the funds to scale operational capacity across India. The company also aims to develop fast charging stations for two-, three–, and four-wheelers.
Hydro, a renewable energy company, has signed an agreement with Northvolt, a battery manufacturer, to <a href="https://cms.mercomindia.com/hydro-acquires-remaining-shares-battery-recycling-company-hydrovolt/" target="_blank" rel="noopener">acquire</a> Hydrovolt’s remaining shares for NOK 78 million (~$7 million). Hydro is increasing its ownership in Hydrovolt from 72 to 100% through this transaction. Hydrovolt is a battery recycling and raw materials company formed in 2020 as a joint venture between Hydro and Northvolt. The company is mainly focused on the recycling of industrial and EV batteries.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-eqt-to-acquire-scale-microgrids/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Moment Energy Secures $15 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-moment-energy-secures-15-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Moment Energy, an electric vehicle (EV) battery repurposing company, <a href="https://mercomcapital.com/moment-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $15 million in a Series A funding round, bringing the company’s total funding raised to date to $52 million. The Amazon Climate Pledge Fund and Voyager Ventures co-led the funding round. The company provides second-life battery energy storage systems from repurposed EV batteries.
responsAbility, a Switzerland-based impact asset manager, has <a href="https://www.mercomindia.com/responsability-injects-20-million-in-ev-manufacturer-euler-motors" target="_blank" rel="noopener">announced</a> an investment of up to $20 million (₹1.7 billion) in New Delhi-based electric commercial vehicles manufacturer Euler Motors. The funding is part of responsAbility’s $500 million (₹42.5 billion) climate investment strategy to reduce CO2 emissions in Asia by supporting e-mobility solutions.
Li-Cycle, a lithium-ion battery recycling company, <a href="https://mercomcapital.com/li-cycle-closes-15-million-underwritten-public-offering/" target="_blank" rel="noopener">announced</a> the closing of its previously announced underwritten public offering, raising approximately $15 million in gross proceeds. The company plans to use the net proceeds from this offering for working capital and general corporate purposes. The offering consisted of 5,000,000 units and 10,000,000 pre-funded units.
Ecozen, a Pune-based company focused on clean energy solutions, has <a href="https://www.mercomindia.com/clean-energy-tech-firm-ecozen-raises-23-million-in-debt-funding" target="_blank" rel="noopener">raised</a> over $23 million in debt funding. Investors for this round included responsAbility Investments, Northern Arc Capital, and Maanaveeya Development &amp; Finance. The company plans to use the funds to scale its current businesses and expand its operations within India and abroad.
Electric vehicle charging solutions provider Bolt.Earth <a href="https://www.mercomindia.com/bolt-earth-raises-5-million-in-series-a-funding" target="_blank" rel="noopener">raised</a> $5 million in a series A+ funding round. The funding round was led by Version One Ventures, a new investor and returning investors USV and Prime Venture Partners. Bolt.Earth plans to utilize the funds to scale operational capacity across India. The company also aims to develop fast charging stations for two-, three–, and four-wheelers.
Hydro, a renewable energy company, has signed an agreement with Northvolt, a battery manufacturer, to <a href="https://mercomcapital.com/hydro-acquires-remaining-shares-battery-recycling-company-hydrovolt/" target="_blank" rel="noopener">acquire</a> Hydrovolt’s remaining shares for NOK 78 million (~$7 million). Hydro is increasing its ownership in Hydrovolt from 72 to 100% through this transaction. Hydrovolt is a battery recycling and raw materials company formed in 2020 as a joint venture between Hydro and Northvolt. The company is mainly focused on the recycling of industrial and EV batteries.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-eqt-to-acquire-scale-microgrids" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.momentenergy.com/" target="_blank" rel="noopener">Moment Energy</a>, an electric vehicle (EV) battery repurposing company, raised $15 million in a Series A funding round, bringing the company’s total funding raised to date to $52 million.
The Amazon Climate Pledge Fund and Voyager Ventures co-led the funding round. The round also had participation from In-Q-Tel (IQT), Version One Ventures, Overture Ventures, WovenEarth Ventures, Fika Ventures, MCJ, One Small Planet, and Climate Capital.
The company provides second-life battery energy storage systems (BESS) from repurposed EV batteries, which can be used in projects ranging from 400 kWh to 10 MWh. The products are designed to serve commercial and industrial sectors, as well as EV charging infrastructure and renewable energy integration.
This funding is expected to support the construction of the company’s first gigafactory dedicated to repurposing EV batteries in the U.S. The project was awarded $20.3 million from the U.S. Department of Energy in October 2024.
“This funding marks a pivotal milestone for Moment Energy, enabling us to further advance our operations and lead the charge in transforming retired EV batteries into valuable battery energy storage systems. By providing a new path for second-life batteries, we’re able to enhance grid stability, increase lithium security in North America, and support renewable energy integration. We serve as a catalyst for an exciting new circular economy that increases energy security as energy demand rises,” said Edward Chiang, CEO of Moment Energy.
According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In November 2024, tozero, a lithium-ion battery recycling company, <a href="https://cms.mercomindia.com/tozero-raises-12-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> €11 million (~$12 million) in an oversubscribed seed funding round led by NordicNinja. New investors, including In-Q-Tel (IQT), automobile company Honda, and global infrastructure engineering company JGC Group joined the round. Existing investors, including Atlantic Labs, Verve Ventures, and Possible Ventures, also participated in the seed funding.

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