Nyobolt, the UK-based developer of ultra-fast charging battery technologies, has secured $30m in new funding to accelerate the commercial rollout of its proprietary high-power systems.

The investment round, led by IQ Capital and Latitude, brings Nyobolt’s total raised to $100 million and includes strategic backing from Scania Invest and Takasago Industry.

The company, which in 2024 became the first to charge an EV battery to 80% in under five minutes using its 35kWh demonstrator, is now deploying its systems across high-uptime, heavy-duty and passenger vehicle applications.

The new funding will support further expansion in automotive markets and adjacent sectors such as AI infrastructure and data centres, where rising power demand and downtime costs are driving interest in next-generation storage.

Sai Shivareddy, co-founder and CEO of Nyobolt, said: “Interest in robust, ultrafast charging solutions for vehicle applications is surging as electrification becomes more widespread.

“Nyobolt is making the switch viable for heavy duty vehicles that demand both high power and low downtime. Our vertically integrated technology is already positively impacting vehicle operators and users, 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’s technology is underpinned by its proprietary low-impedance cell design and advanced anode chemistry. Its systems offer up to 20 times more power than conventional lithium-ion batteries, with reduced reliance on raw materials and no degradation from fast charging. In 2024, the company generated $9m in non-GAAP revenue and has secured more than $150m in contracted future business.

Jessica Persson, head of venture capital and M&A at Scania, said: “At Scania, we invest in companies that support the shift towards a more sustainable transport system. That’s why we’re excited to announce our investment in Nyobolt, a pioneer in high-power, fast-charging solutions.

“Its breakthrough anode technology enables ultra-fast charging and longer-lasting batteries—critical advancements for the electrification of heavy-duty transport, industrial applications, and AI-powered infrastructure.”

Max Bautin, co-founder and managing partner at IQ Capital, added: “Nyobolt has achieved what so few companies can do: translating deep tech research from the lab into a global, impactful business.

“In just a few short years it has become the go-to provider of high-power density solutions for AI warehouse operations and heavy-duty vehicles. Now with the advent of the AI revolution, it is in prime position to become the backbone of critical AI infrastructure.”

Ash Arora, partner at Latitude, commented: “Charging an EV to 80% in under five minutes is headline-worthy. But Nyobolt isn’t chasing headlines — it’s building the backbone of the AI-powered future.

“Born out of Cambridge brilliance and scaled with world-class execution, this team is redefining what’s possible in energy globally. As power grids strain under AI’s explosive demand, Nyobolt is the only company turning deeptech into deep impact — fast.”