Yotuh Energy Secures ₹1.53 Crore in Funding Led by Campus Angels Network
Summary
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 Energys electric active refrigeration system, powered by a Lithium-Ion Battery, operates independently of the vehicles main engine and features proprietary adaptive control technology. 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 Energys 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 Energys pioneering electric refrigeration technology represents a major advancement in 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.