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The Venture Codex

Petronas Ventures

Tower 1, Petronas Towers, Kuala Lumpur City Centre, Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, 50088, Malaysia

Overview

PETRONAS Ventures will invest in early to growth stage companies, and will leverage on PETRONAS’ global network across the energy value chain to achieve strong alignment and strategic fit with its co-investors and partners, in helping startups to scale up.

Total investments
3
Lead investments
1
Investments · 12mo
0
Active investors
0
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Investment portfolio

  • Log 9 Materials

    Led · Series B · Jan 2023

    Log9 develops and manufactures electric-vehicle batteries under the RapidX brand and provides charging solutions under the ZappUp brand. The company works with LTO and LFP lithium‑ion technologies and says it has filed more than 70 patents. It plans to scale manufacturing to a 2 GWh capacity by the end of 2024 and commission an integrated lithium‑ion cell production line. Log9 also intends to invest in startups and organisations working on charging infrastructure, technology ancillaries and climate‑change solutions, and to expand into stationary battery sectors such as power backup and grid storage. The Bengaluru‑based startup is pursuing overseas pilots with a focus on tropical markets and has allocated Rs 100 crore toward advances in cell and battery technology stacks. To date the company has raised close to $50 million including prior funding. Log9 Materials develops RapidX batteries targeting two- and three-wheel electric vehicles and partners with businesses to build EV charging infrastructure across the country. The company positions RapidX as one of the fastest charging solutions in the ecosystem. Founded in 2015, Log9 has been scaling operations rapidly: its scale grew 25X to Rs 7.5 crore in FY21 from Rs 30 lakh in FY20. Its losses increased 2.3X to Rs 7.61 crore in FY21, and the company has not disclosed FY22 financials. Log9 has raised over $18 million to date. The firm continues to attract strategic investors from the battery and EV ecosystem. Log 9 Materials develops fast-charging RapidX battery packs and related advanced cell chemistries (including Aluminum Fuel Cells) for two- and three-wheeler electric vehicles. The company has completed over 10 pilots covering more than 3,000 km with no degradation, reporting persistent InstaCharging, consistent load capacity and high vehicle uptime. Its RapidX batteries can fully charge in 15 minutes for two-wheelers and 40 minutes for three-wheelers, and the firm reports a life of over 15,000 cycles with under 3% degradation in typical last-mile delivery use. Log 9 plans a commercial launch of its Rapid Charging Batteries (scheduled for October 2021) and will use new funds to launch and scale the Log 9 InstaCharge Network. The InstaCharge Network integrates RapidX batteries with various 2W and 3W OEMs to create RapidEV variants and aims to deploy around 5,000 vehicles in the next six months. Raised capital will also be used to develop and scale technology and manufacturing capabilities from materials to cell to battery pack level.

  • LanzaTech

    Participated · Series C · Jan 2012

    On January 27, 2026, LanzaTech Global Inc. disclosed that it has successfully closed a private placement financing, according to Ethanol Producer Magazine. The article does not provide details on the company’s core technology, revenue, user base, or broader business model, focusing solely on the financing event. No information on future projects or strategic initiatives was shared in this piece. Likewise, the report offers no operating metrics such as annual revenue, production capacity, or customer figures. The announcement was simply positioned as a milestone that supplies additional capital for LanzaTech’s next phase of activities. The company released no specifics regarding how the proceeds will be allocated.

Team

No current team members are available.