Chennai,
India – August 20, 2024 –
Yotuh Energy Private Limited, an innovative clean tech startup specializing in
electrifying vehicle refrigeration systems for mid-mile and last-mile cold
chain logistics, incubated at IIT Madras Incubation Cell, has successfully
closed a ₹1.53 Crore funding round led by Campus Angels Network.
Yotuh
Energy, founded in 2022 by IIT Delhi alumni Vivek Mahindrakar, Shaivee Malik,
and Dharmik Bapodara, originated from their formula racing team with a vision
to build sustainable technologies in India. The company has received grants and
awards from the Ministry of Agriculture, DST, MeitY, Acumen, ACIR (US Embassy
to India), IIT Madras Incubation Cell, and Daimler India Commercial Vehicles.
Yotuh
Energy’s electric active refrigeration system, powered by a Lithium-Ion
Battery, operates independently of the vehicle’s main engine and features
proprietary adaptive control technology. Their technology is creating a new
market for intra-city perishable transportation by enabling Small Commercial
Vehicles and Commercial EVs for cold chain logistics.
Leadership
Insights
Dharmik
Bapodara, Co-Founder, Yotuh Energy: “This funding will significantly enhance
our product development, testing, and operations. Our goal is to make cold
chain logistics more accessible, affordable, and sustainable, steering us
towards a future driven by innovation and advanced technologies in
refrigeration systems.”
Chandran
Krishnan, Managing Director & CEO, Campus Angels Network: “Yotuh Energy’s
innovative approach aligns perfectly with our investment philosophy. We believe
their electric refrigeration systems will revolutionize cold chain logistics,
enhancing efficiency, sustainability, and offering substantial cost savings to
the industry.”
Vinod
Dasari, former Managing Director of Ashok Leyland and ex-CEO of Royal Enfield,
and Advisor to Yotuh Energy: “Yotuh Energy’s pioneering electric refrigeration
technology represents a major advancement in cold chain logistics. Their focus
on sustainability and efficiency is exactly what the industry needs to move
forward, and I am excited to see how their solutions will transform the
market.”
Building
Momentum for Business Growth
This
investment will support Yotuh Energy’s product development, testing,
operations, and team expansion to accelerate their vision of transforming cold
chain logistics. By pioneering electric refrigeration systems, this funding
will enhance their proprietary adaptive control technology, eliminate fuel
usage, reduce operational expenses, and drive the industry towards greener and
more efficient practices.
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