Cambridge-based tech innovator Nyobolt has raised a staggering $180 million to scale its pioneering battery technology, setting its sights on powering the AI revolution and transforming global industries.
The investment, led by IQ Capital and backed by global players including Sweden’s Scania Invest and Japan’s Takasago Industry, will fuel Nyobolt’s expansion into power-intensive sectors like AI data centres and heavy-duty transport.
Founded in 2019 as a Cambridge University spinout, Nyobolt has developed proprietary battery systems capable of ultra-fast charging without degradation. Its flagship achievement – charging an electric vehicle battery to 80 per cent in under five minutes – marked it out as a game-changer in high-power energy solutions.
Now, with AI accelerating global power demand by an estimated 165 per cent by 2030, Nyobolt is targeting $multi-billion markets in desperate need of efficient, sustainable energy.
Co-founder and CEO Sai Shivareddy is leading the charge.
“The world is experiencing an unprecedented demand for power,” he said. “Our vertically integrated technology is enabling customers to access stable, fast charge solutions when they need them most – without compromising the environment.”
The company’s battery systems are already deployed in AI warehouses and heavy-duty vehicles. With more than $150 million in secured contract value and $9 million in 2024 revenue, Nyobolt is primed to triple its earnings in the coming year.
Nyobolt’s dual base in Cambridge and Boston, US, positions it strategically for global expansion. The latest funding will support technology development, team growth, and further commercial rollouts.
Yet despite the buzz, Shivareddy is focused on sustainability and long-term impact, taking inspiration from Cambridge success stories like Arm and Domino. “We’re here to grow responsibly,” he said, “and to show that power doesn’t have to come at the planet’s expense.”
