India’s largest domestic PE firm ChrysCapital just bet Rs 170 crore on this startup; here’s why
ChrysCapital -- India?s largest domestic private equity fund with around $4 billion assets under management has invested Rs 170 crore in energy storage startup LivGuard that manufactures automotive batteries, inverter batteries, and solar panels.
- LivGuard will deploy capital towards growth towards its foray into across all its electric vehicle lithium battery space, developing new products, brand and distribution.
- "There are three big areas where we are looking at in the future, first is electric vehicle battery and capacity, second is technology and product development, and third is expansion of brand and distribution.
- Product development will be across the storage space - automotive, energy storage, solar, and vehicle mobility," Gurpreet Singh Bhatia, CEO, LivGuard told Financial Express Online.
- "With this strategic funding, we are looking forward to augmenting innovation and technology to scale up our product portfolio and manufacturing across the country," said Navneet Kapoor, Chairman & Co-founder, LivGuard.