Amara Raja Invests 37 Cr in Battery Startup Log 9
Amara Raja Batteries Limited, better known for its brand name Amaron, will be investing INR 37 Crore for acquiring 11.36% stake in Log 9 Materials Scientific Private Limited, a Bengaluru-based battery technology start-up.
The investment will be used by Log 9 to boost its research and development efforts. Log 9 Materials, in March this year launched its rapid charging EV battery based on supercapacitor technology and Graphene.
The company claimed full charging time for its batteries to be 15 mins.