2021 founded EV battery tech company e-TRNL recorded a revenue of Rs 8000 in the fiscal year ending March 2023 with the entirety of the amount coming in from operations.
e-TRNL Energy is a battery tech startup that offers battery cells with higher energy density and lower heating, allowing for faster charging without suffering from cell degradation.
It mainly competes against the likes of Irasus, Brightblu, Oakter, and Ev Plugs.
It secured its maiden funding round of about Rs 8 crore in late 2022. While the pre-Seed round saw Speciale Invest as the lead investor, the likes of Micelio, CIIE, and Saurabh Chandra also participated.
Post he round while founders Apoorv Shaligram and Uttam Sen held over 30% and more than 25% respectively, lead investor Speciale Invest had about 15%.
Its expenses for FY23 amounted to Rs 28.9 lakhs. While employee benefits accounted for over 30% of this, legal and professional charges and traveling costs contributed over 25% and close to 2%.
Mirroring the expenses for FY23, its losses as well amounted to Rs 29.3 lakhs. Its current EBITDA stands at -36,037.50% and ROCE is at -3.98%.