Cancrie Secures $1.2 Million Seed Funding for Advanced Nanocarbon Materials
Cancrie, a startup dedicated to the development of advanced nanocarbon materials for energy storage solutions, has successfully raised $1.2 million in a seed funding round. This funding was co-led by Roots Ventures and IIMA Ventures.
The capital raised will enable Cancrie to:
- Scale up production capabilities
- Accelerate research and development efforts
- Establish strategic partnerships to embed its advanced nanocarbon materials into next-generation energy storage devices
- Address the increasing demand for its innovative products
Founded in 2020 by Akshay Jain and Mahi Singh, Cancrie is at the forefront of developing sustainable and high-performance carbon materials tailored for various energy storage applications. Their patented technology focuses on producing premium-quality carbon structures designed to enhance battery performance across a range of chemistries such as:
- Lead-acid
- Lithium-ion
- Sodium-ion
- Redox flow batteries
- Supercapacitors
Based in Jaipur, the company aims to deliver exceptional energy storage solutions through the use of renewable resources while ensuring affordability and working towards net-zero emissions. The innovative materials developed by Cancrie provide:
- High surface area
- Enhanced porosity
- Improved conductivity
- Functional versatility
These attributes position Cancrie’s products as a superior choice for efficient and sustainable energy storage devices. By optimising material specifications, Cancrie significantly boosts electrochemical reactions, reduces internal resistance, and increases the utilisation of active materials by as much as 14%. This not only decreases the dependency on mining but also contributes to reducing electronic waste.
Market research indicates that the global energy storage market is anticipated to surpass $500 billion by 2030. Cancrie asserts that its materials enable the production of electrodes that are four times stronger without incurring additional costs to the batteries. Furthermore, they enhance energy density by up to 20%, improve charge acceptance by up to 60%, and extend the lifecycle of lead-acid batteries by over 30%.