India’s energy storage sector has entered a transformative phase in 2026, evolving from ambitious tendering to concrete execution. With over two hundred twenty-four gigawatt-hours of storage capacity tendered and projects moving to commissioning, the nation is becoming a global leader in energy storage innovation. This transformation is driven by a dynamic ecosystem of startups reimagining how energy is stored and consumed across India.
The energy storage landscape encompasses nine hundred sixty-four startups focused on battery technology and storage solutions, with one hundred ninety-six funded and fifty-five reaching Series A or beyond. These companies address critical challenges from electric vehicle battery swapping to grid-scale storage systems. The government’s target of five hundred gigawatts of renewable capacity by 2030 and requirement for seventy-four gigawatts and four hundred eleven gigawatt-hours of storage by 2032 creates unprecedented opportunities.
Union Budget 2026 energized the sector with increased Viability Gap Funding for battery storage to one thousand crore rupees and customs duty exemptions for Battery Energy Storage Systems manufacturing. As India transitions from importing to building domestic battery capabilities, these startups are positioned to capture value while contributing to energy independence and climate goals.
1. Lohum Cleantech
Lohum Cleantech dominates India’s battery lifecycle management with approximately seventy percent market share in recycling. Founded in 2018 in Greater Noida, the company has raised one hundred twenty-seven million dollars from investors including Baring Private Equity Partners and Cactus Venture Partners. Lohum’s approach spans three pillars: manufacturing advanced lithium-ion batteries, providing second-life solutions through battery repurposing, and recycling end-of-life batteries to recover critical materials.
The company’s circular economy model processes materials equivalent to powering fifty thousand electric vehicles annually, with current capacity at twenty thousand tonnes expanding to fifty thousand by year-end 2026. Remarkably, Lohum achieves profitability at scales as low as one gigawatt-hour. Strategic partnerships include Glencore for specialty chemicals, Mercedes-Benz Energy for second-life modules, and MG Motor India for repurposing vehicle batteries into five kilowatt-hour off-grid storage systems for urban and rural applications. With eight hundred thirty-five crore rupees revenue and international expansion to the UAE, Lohum exemplifies Indian startups achieving global impact.
2. Battery Smart
Battery Smart revolutionized electric vehicle adoption through battery-swapping networks that eliminate upfront costs and range anxiety. The company provides modular lithium-ion swapping stations across India for electric two-wheelers and three-wheelers with pay-per-swap access. This energy-as-a-service model enables riders to exchange depleted batteries for charged ones in under two minutes, dramatically improving vehicle uptime and income potential.
Operating through a partner-led asset-light model, Battery Smart enables small business operators to run swap stations with minimal capital. Riders use a mobile app to locate stations and manage payments. The company offers comprehensive fleet support, station partnerships, and insurance coverage for drivers and staff. Its interoperable battery packs work across multiple vehicle models, creating the critical infrastructure mass necessary for commercial electric vehicle adoption.
3. SUN Mobility
SUN Mobility pioneers universal energy infrastructure for electric vehicles, supporting both two-wheelers and heavy commercial vehicles through comprehensive battery swapping. The Bengaluru-based startup addresses four adoption barriers: high costs, limited range, insufficient infrastructure, and long charging times. By separating battery ownership from vehicles through energy-as-a-service, SUN Mobility significantly reduces initial investment requirements.
The company’s smart batteries use efficient lithium-ion technology delivering lightweight construction and longer cycle life. Quick interchange stations enable rapid swaps minimizing downtime for commercial operators. SUN Mobility’s distinction lies in serving diverse segments from lightweight two-wheelers to heavy commercial vehicles with a unified platform approach. As India’s commercial vehicle segment electrifies, SUN Mobility’s infrastructure accelerates the transition by eliminating traditional adoption barriers.
4. Neuron Energy
Neuron Energy has rapidly become a leading lithium-ion battery manufacturer with focus on sustainable mobility and renewable storage. Founded in 2018 by Pratik Kamdar and Raj Shah in Mumbai, the company raised ten million dollars and recently opened a one point five gigawatt-hour facility in Chakan, Pune, with plans to expand to three gigawatt-hours. The company serves electric two-wheelers, three-wheelers, light commercial vehicles, e-tractors, and stationary storage systems with custom battery packs for industrial applications.
Currently ninety-five percent of revenue comes from mobility, with five percent from energy storage systems. However, Neuron projects storage systems will contribute thirty to forty-five percent by 2030 as stationary markets mature. The five-acre facility includes an experience center and research hub exploring sodium-ion, aluminum-air, and solid-state batteries. Neuron expects revenue exceeding three hundred crore rupees in 2026, reaching fifteen hundred crore by 2030, with international expansion into Middle East and African markets demonstrating technological confidence.
5. Cygni Energy
Cygni Energy provides customized lithium-ion packs for electric vehicles and sophisticated Battery Energy Storage Systems for commercial applications. Founded in 2014 by Venkat Rajaraman and incubated at IIT Madras, Cygni raised twenty-eight point five million dollars from Sasken, Meridian Global Ventures, and RTBI. The company launched its Gigafactory in April 2025 in Hyderabad with four point eight gigawatt-hours capacity, planning expansion to ten point eight gigawatt-hours.
Built on five acres with over one hundred crore investment, the facility serves electric two-wheelers, three-wheelers, and offers solar hybrid solutions with customizable energy storage. Cygni leads in direct current architecture for microgrids, electric vehicles, and storage, holding multiple patents and winning global accolades. Having powered seventy-five megawatt-hours of storage batteries and ten thousand electric vehicles, Cygni designs systems from one kilowatt-hour residential to multi-megawatt-hour containerized solutions. Its partnership with Attero for battery recycling demonstrates circular economy commitment.
6. Attero Recycling
Attero Recycling stands as India’s largest electronic asset management company and a globally recognized lithium-ion battery recycler. Founded in 2007 by Nitin and Rohan Gupta in Noida, Attero employs patented technology recovering over ninety-eight percent of lithium carbonate, cobalt, nickel, and graphite from batteries. NASA-recognized for urban mining innovations, Attero uniquely extracts all metals including electrolytes at pharmaceutical-grade purity, holding over thirty global patents.
The company follows zero-waste, closed-loop processes generating carbon credits while recovering materials. As electric vehicle adoption accelerates, Attero captures increasing end-of-life battery volumes. Partnerships with manufacturers for Extended Producer Responsibility create steady feedstock pipelines. By recovering lithium, cobalt, manganese, and nickel, Attero addresses India’s critical mineral import vulnerability while enabling circular economy models.
7. Greenfuel Energy Solutions
Greenfuel Energy Solutions evolved from India’s largest alternative gas fuel vehicle component supplier to significant lithium-ion battery manufacturer. Founded in 2006, Greenfuel builds indigenously manufactured battery packs to global standards tested for Indian conditions. The company brings vast on-field experience from compressed natural gas markets, providing insights into demanding commercial vehicle requirements.
Known for innovative research, skilled service personnel, and pan-India after-sales networks, Greenfuel balances performance, safety, and cost-effectiveness for mass-market adoption. The extensive service network built over years provides competitive advantages in service-dependent battery business. As commercial vehicles electrify driven by cost advantages and emission standards, Greenfuel’s battery technology and customer relationships position it as a key transition enabler.
8. Electrent Energy
Electrent Energy represents emerging startups focused on grid-scale battery storage and intelligent energy management. Founded in early 2025, Electrent addresses converting intermittent renewable energy into reliable power. Founder Chirag emphasizes storage transforms clean power into dependable power, solving fundamental solar and wind limitations.
Electrent builds long-term manufacturing capacity encouraged by customs duty exemptions for Battery Energy Storage Systems. The increased Viability Gap Funding particularly benefits grid-scale applications where high costs historically constrained deployment. Developing solutions integrating with renewable installations, Electrent provides storage ensuring grid stability as renewable penetration increases. Its focus on intelligent management using advanced software positions it to capture value from optimization services maximizing storage economic returns.
9. Inverted Energy
Inverted Energy represents engineering-led startups bringing fresh battery approaches. Founded in 2017 by IIT engineers in New Delhi, Inverted specializes in designing and manufacturing lithium-ion batteries for diverse applications. The engineering pedigree enables tackling complex challenges in pack design, thermal management, and battery management systems.
Serving electric cycles, scooters, rickshaws, solar applications, and consumer electronics with customized solutions, Inverted emphasizes flexibility recognizing different applications have vastly different requirements. The ability to design custom solutions enables serving niche markets larger manufacturers might overlook. As India’s battery ecosystem matures and applications diversify, engineering-intensive custom solution providers find expanding opportunities.
10. Power Pulse Energy
Power Pulse Energy represents the newest startup generation, founded in 2023 in Jaipur. Producing lithium iron phosphate batteries for households, industries, and low-speed vehicles, the company focuses on LiFePO4 chemistry’s safety and long cycle life advantages. Solutions integrate solar-compatible systems providing backup energy and reducing grid dependence.
Cabinet-type storage supports telecom infrastructure and remote operations where reliability is essential. The company also provides lightweight golf cart and forklift batteries improving performance over lead-acid alternatives. Although early-stage, LiFePO4 focus positions Power Pulse well for safety-critical applications. As rooftop solar expands under PM Surya Ghar Muft Bijli Yojana targeting one crore households by 2027, residential storage markets create opportunities for companies focusing this segment.
The Road Ahead
India’s energy storage startup ecosystem transitions in 2026 from tendering to execution. Government policy support through viability gap funding, customs exemptions, and solar subsidies creates favorable growth conditions. The projected requirement of seventy-four gigawatts and four hundred eleven gigawatt-hours by 2032 represents enormous market opportunity supporting multiple successful companies.
These startups represent different strategic approaches to capturing market value. Lohum and Attero focus on recycling and circular economy addressing resource security. Battery Smart and SUN Mobility pursue swapping infrastructure reducing adoption barriers. Neuron, Cygni, Greenfuel, Inverted, and Power Pulse manufacture batteries for various applications. Electrent focuses on grid-scale storage and intelligent management.
Success depends on execution excellence, technological differentiation, and building sustainable competitive advantages against domestic and international competition. As India becomes a global battery manufacturing hub, these startups contribute to energy security, climate action, and industrial competitiveness. The coming years determine which companies scale to industry leadership, but the ecosystem has never been better positioned for transformative growth driving India’s energy storage future.
