Gegadyne raises funding from Mumbai Angels Network

Mumbai-based startup Gegadyne Energy has raised an undisclosed amount of funding from Mumbai Angels Network.

Gegadyne is a firm with patent pending in battery technology. It claims that this beats the conventionally used options such as Lithium-ion batteries not only in terms of utility but also in terms of cost and convenience.

"A new concept needs the right set of people and the right source of financing to transform it into something tangible. In our case, MA’s timely guidance and the vast network have put us in touch with investors who bring not only a financial backing to this venture, but the much-needed connections that this industry demands," said Jubin Varghese and Ameya Gadiwan, founders, Gegadyne.

"With the world moving towards electric vehicles and efficient low-cost batteries, Gegadyne’s patent pending super capacitor graphene-based battery would be the game changer replacing the Lithium ION batteries," said Nirav Choksi, Deal Lead, Mumbai Angels Network.