Aloe Ecell, an Indian startup developing eco-friendly disposable batteries, has secured a Rs 3.5 crore funding commitment through Bharat Ke Super Founders, a business television series streamed on Amazon MX Player.The funding includes Rs 2.5 crore in equity financing for a 4.16% stake in the company and Rs 1 crore in debt provided by Recur Club, according to a statement. The capital will be used to expand distribution through quick-commerce platforms and scale operations.The equity round was backed by investors participating on the show. Thyrocare founder Dr A. Velumani committed Rs 1.25 crore for a 2.08% stake, while Nazara Technologies CEO Nitish Mittersian invested Rs 50 lakh for 0.83%. All In Capital’s Aditya Singh contributed Rs 25 lakh for 0.42%, and Shanti M invested Rs 50 lakh for another 0.83%, the company said.Also ReadDeeptech in energy: How AI is extending battery life and financial trustFounded in 2018, Aloe Ecell operates in the primary battery segment and manufactures AA and AAA batteries using an aloe vera extract-based electrolyte, instead of conventional chemical compounds. The batteries are designed for low-power household devices such as remote controls, clocks, toys, and cameras, and are positioned as leak-proof and recyclable.The company is targeting what it describes… Read MoreYourStory RSS Feed
