CAMBRIDGE — Nyobolt reached a $1 billion valuation on Tuesday after securing $60 million in a Series C funding round. The investment round was led by Symbotic, a Nasdaq-listed robotics firm. This latest capital injection brings the total funding raised by the company to approximately $160 million since its inception.
The company was founded in 2019 by Dr. Sai Shivareddy and Professor Clare Grey to develop specialized battery materials. Their technology utilizes advanced cell design to enable charging within seconds. The firm claims its batteries offer a lifespan at least 10 times longer than standard lithium-ion products.
Symbotic reported that the batteries provide six times more energy capacity than previous ultracapacitors used in its warehouse robots. These units are also 40 percent lighter than existing alternatives, according to company data. Dr. Shivareddy said the technology supports the physical AI infrastructure that requires continuous operation without downtime.
Nyobolt faces competition from firms like StoreDot and Enovix in the battery market. The company differentiates its products through robotics-specific integration and high cycle life performance. The filing did not disclose the specific equity stake held by Symbotic following this $60 million investment.
The startup plans to use the new funds to expand manufacturing and support a new agreement in India. This project involves providing over 100 megawatts of off-grid power management systems for AI data centers. Nyobolt currently maintains a workforce of approximately 115 employees to manage these operations.
