Sustainability

Rincell Raises $1.2 million In Seed Round To Step-Up Cell Chemistries

Advanced chemistry battery cell manufacturer Rincell Corporation has raised a $1.2 million seed round investment in an oversubscribed round led by U.S. based NextGen Battery Chem Ventures, managed by globally-renowned venture capitalist, Sandiip Bhammer.

Rincell was founded in 2023 by Jignesh Parikh and Dr. Jagjit Nanda. Jignesh Parikh, Rincell’s CEO, claims to have a distinguished track record in scaling businesses, high-volume manufacturing, and supply chain. He had been CEO at American Lithium Energy and has held executive leadership roles at Hitachi, Intel, and Western Digital.

On the funding, Jignesh said, “We’re thrilled to be partnering with Sandiip Bhammer – a veteran clean-tech investor and Founder of early-stage India climate fund Green Frontier Capital. Not only does Sandiip have a stellar reputation for supporting founders, but we’ve immediately felt the positive impact in just the short period of time we’ve started working together. With this investment, Rincell is poised to accelerate our mission of electrifying critical sectors with high capacity-performance batteries using a secure supply chain”.

Dr. Jagjit Nanda is Rincell’s Chief Scientific Officer has been associated with new battery technology research. Nanda said, “This partnership with NextGen Battery Chem Ventures will help bring our innovative silicon-graphite, LMFP and Sodium-ion battery chemistries to market faster.”

Commenting on the investment in Rincell, Sandiip Bhammer stated, “Our investment in Rincell reflects a commitment to pioneering technologies that are set to revolutionize global energy storage and supply.”

Rincell claims to have rapid progress and in just one year since its founding, has already been shipping samples of its highest capacity-performance 18650 and 21700 Silicon-Graphite batteries to government and commercial customers, including Inventus Power, the largest independent battery pack manufacturer in North America.

The infusion of capital from NextGen Battery Chem Ventures will allow Rincell to get its 18650 and 21700 silicon-graphite batteries ready for commercial production in CY2024.

Subhash Yadav

Recent Posts

BASF, Shenergy Group join forces for biomethane commercialisation

Global chemicals and bioenergy major BASF has announced to have signed an MoU with China’s…

11 hours ago

Rajputana Biodiesel set for inaugural IPO on November 26

Rajputana Biodiesel is set to debut in the capital market on November 26 as the…

14 hours ago

SECI, H2Global Stiftung collaborate to promote Green Hydrogen initiatives

The Solar Energy Corporation of India Ltd (SECI) has signed an MoU with H2Global Stiftung…

16 hours ago

Pilibhit’s Kisan Co-op Sugar Mill to begin ethanol production

Uttar Pradesh is making strides in the bioenergy and taking the decarbonisation quest of the…

16 hours ago

Deepak Agrawal is new Managing Director of GPS Renewables’ project development firm ARYA

Bengaluru-headquartered biogas EPC firm GPS Renewables has announced that it has appointed Deepak Agarwal as…

17 hours ago

Seawater-to-green hydrogen: NTPC to set up unique project near Vishakhapatnam

In a key development to further the green hydrogen movement in the country, NETRA, the…

3 days ago