Battery tech startup Lohum raises $7 million, looks to raise $21 million more

Baring Private Equity Partners led the first institutional round of investment that fetched $7 million (Rs 51 crore) for Lohum. The company will be raising Rs 150 crore more over the next one year, chief executive Rajat Verma said. The company is looking to increase its revenue ten-fold over the next three years to more than Rs 500 crore, with a bulk of it coming from electric vehicle (EV) battery sales as the industry picks up pace in the country, Verma said.

from Tech-Economic Times https://ift.tt/2LzM1TA