International Battery Company develops large prismatic lithium‑ion NMC battery cells designed specifically for the Indian EV market. Founded in 2022 and headquartered in Sunnyvale, California, the startup conducts R&D in Silicon Valley and manufactures cells at a 50MWh plant in South Korea, which recently made its first commercial shipment and received BIS certification. Its cells are built for high temperatures, fast charging, extended lifecycles (7–10 year warranty), and meet UN38.3 recycling/reuse standards. The company is focused on small mobility segments — two‑ and three‑wheelers, light commercial vehicles, and farm/industry equipment — with two of three initial customers engaged and plans to expand to buses, trucks and cars over time. International Battery Company plans a 2GWh "copy exact" facility in Bengaluru by 2025 and a 10GWh gigafactory by 2028, and projects about $350 million in annual revenue in a second phase between December 2024 and 2025 tied to the 2GWh facility. The startup has roughly 100 employees, raised $35M to date, is preparing a ~ $70M Series A, is developing AI/ML systems to improve yield, and is researching sodium‑ion technology.

Total raised

$35M

Funding rounds

1

Latest round

Series A

Latest activity

Jan 2024