Amazon Climate Pledge Fund Invests in Indian Battery Management Tech Startup

Energy technology startup Ion Energy raised $3.6 million in pre-series A funding from Amazon’s Climate Pledge Fund, Climate Capital, YourNest Venture Capital, Riso Capital, Venture Catalysts and other angel investors, Ion said Thursday. It’s the first investment in India for Amazon’s $2 billion Climate Pledge Fund. Ion’s primary technology is a smart battery management system (BMS) that uses proprietary algorithms to improve battery life and performance, blogged Amazon Thursday. The BMS is typically sold as a product or a technology license to OEMs that are developing lithium-ion batteries or electric vehicles, it said. The funds will be used to grow employment to 125 from 70, invest in product development and expand the software business in North America and Europe, it said.