Energy Storage Start-up, LivGuard, Raises $32 Million
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Founded in 2014, LivGuard is a one-of-its-kind energy storage space in India. Today, it boasts off an impressive product portfolio including inverters/inverter batteries, automotive batteries, stabilizers and solar batteries. LivGuard was founded by Rakesh Malhotra and Navneet Kapoor.
Recently, LivGuard raised $32 million (220 crores) from private equity fund ChrysCapital, and Ncubate Capital Partners. Entrepreneur India spoke to Gurpreet Singh Bhatia, CEO, LivGuard Energy Technologies Pvt Ltd. over an email exchange on his plans post the fun raise and how his venture is disrupting the sector.
Entering a Disruptive Space
How will the utilization of funds take place? Bhatia says, “The investment will help LivGuard accelerate its growth across all segments through capacity enhancement, moving into electric vehicle lithium battery space, new product development, brand and distribution.”
The root of any idea stems from the need to eradicate a predicament. The same can be said for the purpose that LivGuard has taken.
Bhatia shares that he identified the problem of frequent power cuts as a problem and developed fast charging inverters with higher backup batteries. His venture is endeavouring to solve the problems of the ecosystem, “LivGuard is gaining a deep understanding of current and emerging applications and developing innovative product and services. These are differentiated and deliver customer value.”
On the EV front, they are investing to continuously study the applications and develop technologically advanced products alleviating range anxiety, delivering power and life. It has also built a strong pan-India distribution network along with an excellent manufacturing footprint.
The Heart of All Activities
The company is in a unique differentiated position as a complete energy storage solution provider of inverters, inverter batteries, automotive batteries, stabilizers and solar batteries
Bhatia adds that innovation and technology are at the heart of everything that they do. He says, “We invest heavily in R&D to gain deep application knowledge to build our product and services.” He also adds, “Our fast charging inverters with artificial intelligence, high backup 3D Technology batteries, web-based testers are some examples of what we have already brought to the market. In future, you can expect products which are connected and smart.”
Surely, disruptions and great inventions don’t happen overnight or in thin air. They require great attention and vision.
They have a clear strategy to grow the business over the next 5 years. He says, “We are committed to building the brand, creating a robust distribution and service network to be able to serve our customers. LivGuard is also readying itself for emerging technologies in EV and its ecosystem.”
Bhatia is aware that LivGuard is a young brand in the market and its journey has just begun but he is also confident about making a mark in the industry and he fears no pressure or competition.