Dynolt Nets Funding To Power Clean Energy Space With Charging Solutions

SUMMARY

Bengaluru-based Dynolt has raised $1.7 Mn in seed funding from Transition VC to expand its charging solutions for clean energy applications

The startup will use the funds to develop faster charging systems and expand into solar and hydrogen energy sectors

Since its founding in 2022, Dynolt has built charging technology for EVs and counts companies like Bounce, Yulu and River among its clients

Bengaluru-based deeptech startup Dynolt Technologies has secured $1.7 Mn (INR 13.94 Cr) in a seed funding round led by Transition VC, along with participation from Yashovardhan Shah..

The startup plans to use the fresh capital to expand its power electronics portfolio, focused on higher power chargers with wide bandgap semiconductors for fast charging stations.

It also plans to enter new sectors like solar and hydrogen with solutions for high frequency inverters and DC-DC converters.

Founded in 2022 by Rajesh Sura and Teja Kumar, Dynolt develops power control technology for clean energy applications.

Both versions maintain accuracy while removing technical jargon like “software-defined power converters” and “domains,” making it more accessible to general readers. Its current product line includes converters for on-board and off-board chargers for two and three-wheeler EVs and swapping stations.

“We’re on a mission to redefine the future of clean energy in India. This investment will fuel our expansion into critical sectors like battery energy storage systems (BESS), renewable energy, and hydrogen,” Sura said.

The company counts EMO Energy, Sandhar, Bounce, International Battery Company, Numeros Motors, Yulu, Yuma Energy and River among its clients portfolio.

Dynolt Technologies’ recent $1.7 Mn seed funding aligns with India’s broader momentum in the EV and clean energy sectors. The Indian government has been actively promoting EV adoption through various financial incentives, aiming to make electric vehicles more affordable and accessible to consumers.

In the private sector, several companies have made significant strides. For instance, Tata Motors plans to more than double its charging points to 400,000 by 2027, including 30,000 new public charging stations and a ‘Mega Charger’ network. Similarly, Maruti Suzuki aims to install 1,500 EV chargers at its service stations, ensuring access to a charger every 5-10 kilometres in major cities.

However, the EV industry faces challenges. Recent reports indicate a slowdown in EV sales, leading to a 31% decrease in funding, totaling $624 million across 43 deals. Despite this, companies like Exicom Tele-Systems are optimistic, expecting their EV charger business to contribute 50% of annual revenue by 2030.