Rincell Corporation, an advanced chemistry battery cell start-up has raised $1.2 million (Rs 10 crore) seed round investment in an oversubscribed round led by US-based NextGen Battery Chem Ventures, managed by Sandiip Bhammer.
Founded in 2023 by Jignesh Parikh (CEO) and Dr. Jagjit Nanda (Chief Scientific Office) Rincell claims to have already started shipping samples of its 18650 and 21700 Silicon-Graphite batteries to customers including Inventus Power, the largest independent battery pack manufacturer in North America.
The company’s founded Jignesh Parikh was the former CEO at American Lithium Energy and has held executive leadership roles at Hitachi, Intel, and Western Digital. “We’re thrilled to be partnering with Sandiip Bhammer – a veteran clean-tech investor and Founder of early-stage India climate fund Green Frontier Capital. Not only does Sandiip have a stellar reputation for supporting founders, but we’ve immediately felt the positive impact in just the short period of time we’ve started working together. With this investment, Rincell is poised to accelerate our mission of electrifying critical sectors with high capacity-performance batteries using a secure supply chain”.
On the other hand, Dr. Jagjit Nanda was a Distinguished Scientist & Executive Director at the SLAC-Stanford Battery Center and former scientist at Oak Ridge National Lab. He has also worked on solid state chemistry and battery materials.
“This partnership with NextGen Battery Chem Ventures will help bring our innovative silicon-graphite, LMFP and Sodium-ion battery chemistries to market faster,” added Dr Nanda.
Sandiip Bhammer stated, “Our investment in Rincell reflects a commitment to pioneering technologies that are set to revolutionise global energy storage and supply.”
Chris Turner, CTO, Inventus Power added, “We are excited about the progress Rincell has made to commercialise its silicon-graphite anode 18650 and 21700 cells and will continue to work closely with Rincell to leverage its innovative cell technology when designing next generation advanced battery systems for medical, industrial/commercial, defense, and xEV applications”.
The start-up claims that with the investment from NextGen Battery Chem Ventures it will start working towards commercial production of the 18650 and 21700 silicon-graphite batteries in CY2024.
In addition to Silicon-Graphite it is also working on LMFP and sodium-ion batteries for government and commercial applications.
