Nyobolt, a Cambridge-based company specializing in high-power ultrafast charging technologies, has successfully raised €26.3 million to enhance its proprietary technology and expand its market presence.

The latest funding round was led by IQ Capital and Latitude, with contributions from strategic partners such as Scania Invest and Takasago Industry, bringing Nyobolt's total funding to €87.9 million.

Investors have praised Nyobolt for effectively translating deep tech research into a scalable business model that addresses global energy demands.

Nyobolt has achieved significant milestones, including generating €7.9 million in revenue in 2024 and being the first to charge an electric vehicle battery to 80% in under five minutes, setting a new industry standard.

The company's systems can deliver up to 20 times more power, enabling ultra-fast charging in minutes and minimizing downtime for high-power applications while using fewer natural resources than traditional lithium batteries.

Ash Arora from Latitude emphasized that Nyobolt is vital for the future of AI-powered energy infrastructure, addressing the increasing demands placed on power grids.

Co-founder and CEO Sai Shivareddy highlighted the unprecedented global demand for power driven by the need to decarbonize industries and support AI infrastructure, emphasizing Nyobolt's role in providing stable and fast charging solutions.

The demand for power is projected to increase by 165% globally by 2030, driven by advancements in AI, further intensifying the need for Nyobolt's innovative energy solutions.

Jessica Persson from Scania emphasized the importance of Nyobolt's fast-charging solutions for the electrification of heavy-duty transport and industrial applications.

Nyobolt's technologies are particularly crucial for sectors like AI automation, heavy-duty transport, and data centers, which face pressure to reduce emissions while maintaining continuous operation.

Data center outages can result in significant financial losses, averaging €9,000 per minute, underscoring the need for reliable power solutions.

Currently, only 20% of solutions in these sectors are electrified, highlighting a significant market gap that Nyobolt aims to address.