Dynolt Technologies Secures $1.7M Seed Funding for Clean Energy Solutions Expansion
Key Ideas
- Dynolt Technologies, a Bengaluru-based startup, raised $1.7 million in a seed funding round led by Transition VC and angel investor Yashowardhan Shah.
- The company focuses on developing power electronics solutions for clean energy sectors like e-mobility, energy storage, renewables, and now hydrogen.
- With a current product line of software-defined power converters for EV chargers and swapping stations, Dynolt aims to strengthen India's position in clean energy adoption.
- The funding will support the startup's expansion into higher power chargers, wide bandgap semiconductors for fast charging stations, and entry into new sectors like solar and hydrogen with their innovative solutions.
Dynolt Technologies, a deep-tech startup based in Bengaluru, has successfully secured $1.7 million in a seed funding round. The funding was led by Transition VC, along with participation from angel investor Yashowardhan Shah. Dynolt, founded in 2022 by power electronics engineers Rajesh Sura and Teja Kumar, specializes in developing power electronics solutions for various clean energy sectors such as e-mobility, energy storage, renewables, and now hydrogen.
The startup's product line currently includes software-defined power converters for on-board/off-board chargers for two and three-wheelers EVs, as well as swapping stations. Dynolt has made significant strides in the e-mobility space, deploying over 14,000 power converters across India that have collectively completed more than 30 million charging cycles, establishing the company as a key player in the EV sector.
With the recent funding, Dynolt plans to enhance its presence in the mobility sector by introducing higher power chargers utilizing wide bandgap semiconductors for fast charging stations. Additionally, the company aims to venture into new sectors like solar and hydrogen, offering solutions for high-frequency inverters and DC-DC converters applications.
Rajesh Sura, Co-founder and CEO of Dynolt Technologies, expressed the company's mission to revolutionize the future of clean energy in India with this investment. He highlighted the importance of the funding in facilitating expansion into critical sectors including battery energy storage systems, renewable energy, and hydrogen, while reinforcing their leadership in next-generation power conversion products.
Transition VC's Co-founder and Managing Partner, Raiyaan Shingati, emphasized the pivotal role of power electronics in advancing energy transition. Shingati noted that Dynolt's innovations will accelerate the transition to clean energy, making it more efficient, affordable, and rapid. Power electronics, according to Shingati, is a crucial enabler for scaling renewables, EVs, and modern grids, positioning Dynolt at the forefront of this transformative journey in India.