Cambridge, UK & Boston, US – 16 April 2025 – Nyobolt, the Cambridge-born pioneer in ultrafast charging technologies, has announced a landmark $30 million investment round, led by IQ Capital and Latitude (the sister fund of LocalGlobe), with strategic backing from Scania Invest and Takasago Industry. The funding brings the total capital raised to $100 million and marks a pivotal moment for the company as it moves from innovation to large-scale implementation.
The investment follows a year of commercial and technical milestones for Nyobolt, which ended 2024 with $9 million in revenue and cemented its reputation as the fastest-charging battery system on the market. Its in-house EV demonstrator stunned the industry with a 10–80% charge in under five minutes—a feat previously thought unachievable without battery degradation.
Now, with over $150 million in contract value already secured, Nyobolt is scaling its high-power, low-impedance battery systems across industries that are redefining our electric future—from heavy-duty vehicles and electrified logistics to AI data centres and next-gen warehouses.
The Charge Heard Around the World
Nyobolt’s breakthrough lies in its proprietary anode material, the result of advanced cell chemistry research born at Cambridge University. Unlike conventional lithium-ion batteries that suffer from thermal and structural degradation at high charge rates, Nyobolt’s battery architecture sustains high throughput with minimal wear—delivering not just speed, but longevity.
It’s this high-power density and rapid recharge capability that makes Nyobolt the go-to solution for high-uptime applications where downtime is costly or even catastrophic. In heavy-duty vehicles, this means fleets that can recharge in minutes rather than hours. In AI-powered warehouses and GPU-intensive data centres, it means continuous uptime without compromising sustainability.
Driving a New Electrified Era
The automotive implications are profound. In partnership with Scania Invest, Nyobolt’s technology is being actively deployed in production-ready vehicle applications, supporting the electrification of demanding transport systems. By enabling smaller, lighter battery packs with shorter charging windows, OEMs can deliver more efficient EV platforms while reducing costs and emissions.
Passenger car applications are already in the pipeline—including retrofits to existing platforms. These could accelerate the transition to EVs by solving one of the industry’s largest pain points: lengthy charge times. For drivers, it means a seamless experience akin to traditional refueling—without the environmental compromise.
“Interest in robust, ultrafast charging solutions for vehicle applications is surging as electrification becomes more widespread,” said Sai Shivareddy, CEO and Co-Founder of Nyobolt. “Our vertically integrated technology is already positively impacting vehicle operators and users, enabling them to experience stable, fast-charge solutions when they need them the most.”
Powering the AI Economy
But the story doesn’t end at the road. As AI reshapes industries and dramatically increases global power demand, Nyobolt’s relevance is only accelerating. Data centre outages already cost companies upwards of $9,000 per minute—and with AI-driven facilities predicted to push power demand up by 165% by 2030, existing battery solutions simply can’t keep pace.
Nyobolt steps in as a crucial enabler of this AI-driven world, delivering energy systems that can provide 20x more power, charge in minutes, and eliminate costly downtime. More importantly, its solutions use fewer natural resources, offering a more sustainable path forward for the planet and the power grid.
“Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business,” said Max Bautin, Co-Founder and Managing Partner at IQ Capital. “With the advent of the AI revolution, it is in prime position to become the backbone of critical infrastructure.”
Investors Backing Deep Impact
The latest round reflects a convergence of deep tech innovation with commercial readiness. Backers like Scania, Takasago, and Latitude see in Nyobolt not just a battery business, but a transformative energy company uniquely positioned to reshape both mobility and infrastructure.
“Nyobolt isn’t chasing headlines — it’s building the backbone of the AI-powered future,” said Ash Arora, Partner at Latitude. “Born out of Cambridge brilliance and scaled with world-class execution, this team is redefining what’s possible in energy globally.”
“At Scania, we invest in companies that support the shift towards a more sustainable transport system,” added Jessica Persson, Head of Venture Capital and M&A at Scania. “Nyobolt’s breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for heavy-duty transport, industrial applications, and AI-powered infrastructure.”
What’s Next for Nyobolt
With this funding, Nyobolt plans to expand its team, accelerate market rollout, and further develop its product line to meet surging demand. Having already proven itself in some of the most demanding energy environments, the company is now poised to shape the next decade of electrification—one ultra-fast charge at a time.
