Nyobolt, a leader in high-power ultrafast charging technologies, has announced the successful raising of $30 million in funding. This latest investment round was led by IQ Capital and Latitude, the sister fund of LocalGlobe, and included strategic partners such as Scania Invest and Takasago Industry. The new funds bring Nyobolt’s total capital raised to $100 million, which will be utilized to further develop its proprietary technology, expand market reach, grow its team, and reinforce its position as a frontrunner in ultra-fast power systems.
The company’s innovative fast-charge systems are currently deployed in AI warehouses and heavy-duty vehicles, contributing to decarbonization efforts and minimizing downtime across various industrial sectors. Nyobolt has already secured over $150 million in contract value and reported revenues exceeding $9 million in 2024. Notably, Nyobolt achieved a milestone by successfully charging an electric vehicle battery to 80% capacity in under five minutes.
Nyobolt’s solutions address critical needs in power-intensive industries such as AI automation, heavy-duty transportation, and data centers, all of which face increasing pressure to reduce emissions while maintaining uninterrupted operations. Presently, only 20% of solutions in these sectors are electrified. Additionally, data center outages result in substantial financial losses, averaging $9,000 per minute. With AI projected to increase global power demand by 165% by 2030, Nyobolt’s technologies offer a timely solution by delivering up to 20 times more power, enabling rapid charging, and eliminating downtime for high-demand applications, all while utilizing fewer natural resources compared to traditional lithium batteries.
Central to Nyobolt’s advancements is its proprietary anode material, developed through extensive cell chemistry research. This material enables higher power density and supercharging capabilities without degradation, overcoming the limitations of conventional technologies. These enhancements have facilitated the deployment of Nyobolt’s systems in AI-powered warehouses and heavy-duty vehicle applications.
Sai Shivareddy, Co-Founder and CEO of Nyobolt, stated, “The world is experiencing an unprecedented demand for power, not only to decarbonize heavy industries but to provide enough resources to handle the surge in AI infrastructure. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most.”
Jessica Persson, Head of Venture Capital and M&A at Scania, added, “Nyobolt’s breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for the electrification of heavy-duty transport, industrial applications, and AI-powered infrastructure.”
Source: Nyobolt
