UK battery startup Nyobolt raises $30M to disrupt EVs and warehouse robots with 5-minute charging tech

Nyobolt, a Cambridge-based battery tech startup, has raised $30 million in fresh funding to push beyond its current focus on autonomous warehouse robots and move into heavier sectors like electric vehicles and high-demand industrial use cases.

The round was led by IQ Capital and Latitude (LocalGlobe’s sister fund), with participation from strategic players including Scania Invest—Volkswagen’s truck arm—and Takasago Industry. This brings the company’s total funding to $100 million.

Nyobolt has built its name around energy storage systems that charge in minutes. Until now, the company has focused largely on autonomous warehouse robots that work nonstop and need near-zero downtime. CEO Sai Shivareddy said that the segment offered a rare advantage.

“We’ve been focused on this market because there’s pretty much no competition,” Nyobolt CEO Sai Shivareddy told Reuters.

From Warehouses to EVs: Nyobolt Raises $30M to Scale Fast-Charging Battery Tech

The latest round will be used to grow the team, move into new markets like EVs and AI data centers, and double down on its core tech.

“The world is experiencing an unprecedented demand for power, not only to decarbonise heavy industries but to provide enough resources to handle the surge in AI infrastructure. The energy status quo can’t and shouldn’t sustain these demands. Our vertically integrated technology is already positively impacting customers, enabling them to experience stable, fast charge solutions when they need them the most. I’m delighted to have the confidence of our customers and investors as we further strengthen our mission to push the boundaries of ultra-high-power solutions,” Nyobolt co-founder and CEO Sai Shivareddy said.

Nyobolt’s pitch is simple: faster charging, lower downtime, better energy density. The company claims its batteries deliver up to 20x more power than conventional options while using fewer raw materials. That’s an increasingly attractive combo as industries face pressure to cut emissions while keeping things running around the clock.

Its proprietary anode material—developed from deep research into cell chemistry—is what sets Nyobolt apart. The company says its batteries can charge from 10% to 80% in under five minutes, with no performance drop-off over time. Last year, it proved that in a real-world track test using an EV.

Now, Nyobolt is in discussions with eight major automakers about embedding its fast-charging tech into their next-gen platforms. Shivareddy says this tech isn’t years away from reality. “This is totally possible for mainstream, high-volume models within the next three to five years,” he said. “We stand uniquely positioned to partner with anybody and everybody who wants to build these systems at scale.”

Unlike some of its peers, Nyobolt doesn’t plan to manufacture batteries itself. Instead, it’s betting on licensing the tech to bigger players.

The company finished 2024 with $9 million in revenue and claims to have already locked in $150 million worth of contracts. As demand surges across AI, heavy-duty transport, and data centers—some of which now lose up to $9,000 per minute during outages—Nyobolt is developing next-gen systems that can handle the 10x power requirements that new GPU-based infrastructure demands.

The data center sector alone is expected to hit $500 billion within five years. If Nyobolt delivers on its promises, it might not just be an EV battery company anymore—it could become the quiet force behind the infrastructure keeping everything else going.