Battery tech startup Log9 raises $40 million from Petronas, others

Deep-tech battery startup Log9 Materials has raised $40 million (nearly Rs 325 crore) in Series B funding led by Amara Raja Batteries and Petronas Ventures. InCred Financial Services, Oxyzo Financial Services and others also participated in the round. The funds will allow Log9 to grow its battery manufacturing capabilities to a 2-GWh capacity by 2024-end, said CEO Akshay Singhal.