Jaipur-based Startup Cancrie Secures Seed Funding to Scale Sustainable Energy Storage Solutions
Cancrie, a cutting-edge startup focused on developing advanced nanocarbon materials for energy storage, has successfully raised $1.2 million in a seed funding round. The round was led by Roots Ventures, with additional participation from IIMA Ventures, Foundation Botnar, and Sagana. This new investment will support Cancrie in scaling production, advancing research and development, and forming strategic partnerships to integrate its innovative nanocarbon materials into next-generation energy storage technologies.
Founded in 2020 by Akshay Jain and Mahi Singh, Cancrie is revolutionizing the energy storage industry by designing high-performance carbon materials for a variety of battery chemistries, including lead-acid, lithium-ion, sodium-ion, redox flow batteries, and supercapacitors. The company’s patented technology is engineered to improve the performance and sustainability of energy storage devices while contributing to the global shift toward renewable energy.
Cancrie’s breakthrough materials provide several benefits over conventional options. The company’s advanced carbon materials have a high surface area, porosity, and conductivity, which enhance electrochemical reactions in energy storage devices. This leads to reduced internal resistance, increased utilization of active material (by up to 14%), and improvements in battery energy density, charge acceptance, and overall lifespan. Remarkably, Cancrie’s electrodes are four times stronger than traditional options and can extend the life of lead-acid batteries by more than 30%.
One of Cancrie’s core missions is to support the transition to net-zero emissions by providing sustainable, high-performing energy storage solutions made from renewable resources. The company aims to reduce dependence on mining for battery materials while also addressing the growing problem of e-waste.
As the global energy storage market is projected to surpass $500 billion by 2030, Cancrie is well-positioned to meet the rising demand for efficient, sustainable energy storage solutions. By optimizing material specifications, Cancrie’s products not only offer superior battery performance but also contribute to a cleaner, more sustainable future.
With this latest investment, Cancrie plans to continue its mission of enhancing energy storage technologies, ultimately helping to drive the widespread adoption of renewable energy sources and clean technologies.
