EMO Energy has raised ₹59 crore (approximately $6.2 million) in its latest pre-Series B funding round. This funding was led by Raghav Capital. The investment round attracted a group of new and existing institutional investors such as Maiuni Ventures LLP, Transition VC, NKA Resources and MMG Realtech Private Limited. Regulatory filings obtained by Entrackr reveal that the company’s board approved the issuance of a total of 2,048 pre-Series B compulsory convertible preference shares (CCPS) under two tranches, with an individual issue price of ₹2.89 lakh per share, to raise the total capital.

Capital deployment and equity holdings

Detailed financial projections suggest that this new infusion of capital has positioned EMO Energy at a valuation of over ₹860 crore (approximately $90 million) post-fundraise. This revised valuation figure reflects a massive 4.3X increase, directly compared to the previous valuation of the Series A, which was at ₹202 crore. 

The capital acquired will be deployed in a strategic manner by the management to meet the essential needs of the working capital requirements of the business, for its long-term capital expenditure projects, and ultimately as a catalyst for its overall corporate growth plans. The funding round involved a wide range of financial backing from the key financial institutions. 

Of the ₹59 crore raised, ₹24 crore has been provided by lead investor Raghav Capital. Maiuni Ventures LLP was the second major investor in this round of funding, with an investment of ₹20 crore in the energy-tech company. 

Existing backer Transition VC further demonstrated its commitment to the company when it inked an additional investment of ₹6.5 crore. Corporate entities MMG Realtech Private Limited and NKA Resources had donated ₹5 crore and ₹3.61 crore, respectively, to complete the tranches.

This fresh-class allotment has caused important external cap table restructurings in EMO Energy. On completion of this share allotment, Transition VC’s equity stake in the company would rise to 11.63%, remaining the largest external shareholder of the company. 

Raghav Capital currently holds 2.79% stake, while Maiuni Ventures LLP holds 2.33%, and MMG Realtech Private Limited also holds 0.58% stake, while NKA Resources holds 0.42% stake in the newer incoming entities. The initial co-founders of the venture, Sheetanshu Tyagi and Rahul Patel, retain their exact stake each with 16.79% of the firm’s shares.

AI-powered innovation and operational growth

Founded by the entrepreneurial duo of Sheetanshu Tyagi and Rahul Patel in 2022, EMO Energy has emerged as a distinct player in the deep-tech landscape, focusing on the development of AI-driven battery systems. The company’s design philosophy is strongly reflected in the development of extremely optimized systems for electric mobility and utility-scale energy storage. 

EMO Energy’s product range is supported by a highly developed and proprietary ZEN platform, which is an integrated control system for modern battery architecture. The advanced ZEN platform operates by connecting, seamlessly, the latest cutting-edge fast charging technologies and intelligent thermal management techniques with automated battery management systems. 

This exclusive combination of hardware and software has been specifically designed to improve the operational safety, total performance output, and durability of electric vehicle batteries. The company’s intent is to provide these end-to-end optimizations, effectively serving the distinctive needs of different automotive and industrial verticals from electric two-wheelers through light commercial vehicles to a dedicated segment of energy storage.

Such a substantial valuation hike is warranted given the operational growth trajectory, despite its typical early-stage deep tech fiscal challenges. Earlier, EMO Energy participated in a $6.2 million regular Series A fundraising round led by Subhkam Ventures, with Transition VC participating in the prior round. 

The company has not yet assembled and published financial statements for the fiscal year ended March 2026, but there are signs of aggressive upward momentum in top line revenue generation capability in earlier filings. EMO Energy witnessed tremendous growth in operational revenues in the FY ending March 2025, which rose from ₹4.98 crores in FY ended March 2024 to ₹14.42 crores in FY ending March 2025, a 2.9X rise.

With an equally rapid growth rate in operational revenues, the losses incurred by EMO Energy also registered a sharp rise in the FY ending March 2025, which rose from March 2024 by 48% to ₹7.17 crores from March 2023 to March 2024 losses of ₹4.85 crores. The trend of deteriorating profits and escalating revenue is indicative of the company’s massive capital expenditure on intricate research and development, growing staffing, and manufacturing facilities to scale its breakthroughs in automated battery solutions.

Conclusion

The valuation increase of EMO Energy to ₹860 crore at the pre-Series B round is a testament to the scale of institutional investment for high-tech, home-grown innovation that is driving India’s clean energy and electric mobility supply chain. The startup has secured ₹59 crore from a well-diversified group of existing and new investors like Raghav Capital and Transition VC, resulting in substantial financial stability for its heavy capital needs.

With this additional capital, the company will continue to grow its operational revenues by three times and strengthen its market presence, and by doing so, has succeeded in making its transition from engineering startup into a geopolitical contender in the energy-tech transformation.