The investment will help LivGuard enhance capacity, move into electric vehicle lithium battery space and for new product development, brand and distribution.

Livguard raises Rs 220 crore from Chryscapital and Ncubate Capital
Atom Fund Raising Friday, April 05, 2019 - 13:30

Livguard, comparatively new to the battery industry in India but has recorded an impressive growth in the five years of its existence. The company has now raised capital from Chryscapital and Ncubate Capital Partners. The total amount raised is Rs 220 crore, of which Rs 170 crore has been invested by Chryscapital and the remaining Rs 50 crore from Ncubate.

Livguard is looking to expand its operations and these funds will be utilized to achieve that. The company wants itself to be seen among the top 3 players in the energy storage sector in India.

The SAR Group is the controlling entity of Livguard founded by Rakesh Malhotra and Navneet Kapoor. Some of the business objectives of the company have been described as moving into electric vehicle lithium battery space, new product development, brand and distribution. The funds now raised will go towards realizing these objectives. Apart from augmenting the technology the founders want to expand the production capacities in the manufacturing facilities.

Rakesh Malhotra, Founder & Mentor, LivGuard said, “We are thrilled about ChrysCapital investing and is a testament of what we have already achieved to set a strong foundation for future.  This investment will accelerate our existing business plans and develop future technologies.  Since, there is a space for strong player in the market; this investment will help us to grow further in this sector.”

Speaking on the investment Navneet Kapoor, Chairman & Co- Founder, LivGuard said, “With this strategic funding, we are looking forward to augment innovation and technology to scale up our product portfolio and manufacturing across the country.”

Having touched a topline of about Rs 1,400 crore, the company hopes to reach greater heights and this funding exercise might pave the way for that.

Commenting on the investment, Raghav Ramdev, Director, ChrysCapital said, “ChrysCapital is excited to partner with LivGuard in its journey to become a leading battery manufacturer.  LivGuard has scaled well over the past few years and has built a strong pan-India distribution network along with an excellent manufacturing footprint.”

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