Nyobolt Secures £24 Million to Drive Ultrafast Charging Revolution and Accelerate High-Power Battery Innovation
Nyobolt, a leading innovator in ultrafast-charging and high-power battery technologies, has raised £24 million in new funding led by IQ Capital and Latitude (the sister fund of LocalGlobe). Strategic partners Scania Invest and Takasago Industry contributed, bringing Nyobolt’s total financing to £80 million. This investment will accelerate the advancement of Nyobolt’s proprietary battery technology, stimulate global market expansion, grow its team, and solidify its position as the leader in ultra-high-power systems.
Scania Invest’s participation supports Nyobolt’s ongoing rollout of high-power-density, fast-charging battery systems for production vehicles. After successfully demonstrating its 35kWh EV demonstrator—achieving a 10–80 per cent charge in just under five minutes—Nyobolt has begun deploying its innovative low impedance cell design and software controls to electrify heavy-duty vehicles that demand maximum uptime. Growing interest from passenger car manufacturers has also led to retrofitting existing vehicle platforms with Nyobolt’s technology. Smaller, lighter battery packs become feasible due to Nyobolt’s fast-charge capabilities, reducing costs and natural resource usage while enhancing user convenience.
Beyond automotive, Nyobolt is attracting attention in power-intensive sectors such as AI-driven automation and data centres. These industries face urgent sustainability mandates and high costs from system downtime—data centre outages alone cost an average of £7,000 per minute. Meanwhile, the rise of GPU-powered AI data centres threatens communities with disruptive noise and power demands, as global energy consumption is set to surge by 165 per cent by 2030.
Nyobolt’s advanced fast-charging solutions close this gap by offering up to 20x more power and near-zero downtime for even the most demanding applications. The company’s proprietary anode material, derived from pioneering cell chemistry research, enables unprecedented power density and faster charging with no degradation, overcoming the limitations of conventional battery technologies.
Nyobolt ended 2024 with £7 million in revenue (*non-GAAP), making history as the first company to charge an electric car battery to 80 per cent in under five minutes. It plans to triple revenue in the coming year, having already secured over £120 million in contract value.
“Interest in robust, ultrafast charging solutions for vehicle applications is surging as electrification becomes more widespread. Nyobolt is making the switch viable for heavy-duty vehicles that demand high power and low downtime. Our vertically integrated technology is already positively impacting vehicle operators and users, delivering stable, fast-charge solutions when needed most. I’m delighted to have the confidence of our customers and investors as we continue pushing the boundaries of ultra-high-power solutions.” — Sai Shivareddy, Co-Founder and CEO of Nyobolt.
“At Scania, we invest in companies that support the shift towards a more sustainable transport system. We’re excited to announce our investment in Nyobolt, a pioneer in high-power, fast-charging solutions. Its breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical for electrifying heavy-duty transport, industrial applications, and AI-powered infrastructure.” — Jessica Persson, Head of Venture Capital and M&A, Scania.
“Nyobolt has achieved what so few companies manage: translating deep-tech research from the lab into a global enterprise with far-reaching impact. It has become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles in a few short years. Now, with the dawn of the AI revolution, it is perfectly positioned to become the backbone of crucial AI infrastructure. We remain committed to supporting Sai and the Nyobolt team as they take on this ambitious challenge.” — Max Bautin, Co-Founder and Managing Partner, IQ Capital.
“Charging an EV to 80% in under five minutes is impressive. But Nyobolt isn’t chasing headlines—it’s building the foundation of the AI-driven future. Conceived in Cambridge and scaled with first-class execution, Nyobolt is reimagining what’s possible in the global energy landscape. As AI increases strains on power grids, Nyobolt stands alone by turning deep-tech into deep impact—fast.” — Ash Arora, Partner at Latitude.
