Nexus Power[How these twin sisters are helping EV Battery Industry with Nano-technology in 2023]

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dayakarmaisa
B2B, bio-degradable, environmental, EV, indian startups, Internet, Startups, startups in india, sustainable energy Mar 9, 2023 0

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Nexus Power is an EV Battery Startup 

What is Nexus Power?

Nexus power focuses on utilizing fully biodegradable materials which could be turned into manure after the life cycle is completed to formulate the composition of the battery, founded by the sisters Nikita and Nishita Baliarsingh in 2020. This tech-based startup uses Nano-Technology to create a sustainable future and pollution-free battery market.

This tech-based start-up has the motive to make lithium-free batteries. The team Nexus power wants to make a biodegradable battery so that it’s available in the market in abundance and will be environmentally friendly.

Nikita says that the mission of Nexus Power is “to make a brand that has its origin from indigenous Indian roots that promotes sustainability.”

Startup Nexus Power
Website nexuspower.in
Founded August 2020
Headquarters Bhubaneshwar, India
Products Bio-degradable Batteries
Revenue Model B2B,Commissions

How did Nexus Power start?

The journey of this manufacturing-based company started when the team realized that they want to make environmentally friendly batteries for the betterment of nature.

This duo-founded startup realized that the Indian market didn’t really have electric four-wheeler vehicle manufacturers, and looking at that landscape, the founders wanted to build electric vehicles in India.

Eventually, after working on technology and building, the founders of this tech-based company realizes the reason for the lack of demand for batteries is its charging.

That is where the concept of fast-charge batteries came into the game, and bio-organic and biodegradable fast-charge batteries to be more precise.

The structural raw Materials are from protein. The crop produce, and the leftovers from crop produced are used in order to make the raw materials for these batteries.

Nikita says, “that there was no eureka moment for Power Nexus.” One fine day Nikita and Nishita were interacting about how fascinating electric vehicles are and how fascinating electric batteries are. On the other hand, both of the founders had a paper on sustainability. This Infact gave them a background knowledge of sustainable development and energy.

The founders had knowledge about protein-based electrolytes and how they can be used in making batteries. Nikita and Nishita started conducting experiments during the pandemic at home. That’s how the confidence was Built and the founder decided to start this sustainability-focused startup.

Here is the Quick Overview of Nexus Power Overview

nexus power-overview

Initial Capital

When Power Nexus started, initially it was being started with no capital. However gradually they raised about 30 to 40 lakhs in order to make the company run. So far, until the last balance sheet only 40 lakhs have been invested.

This battery technology-based order has received grants from the government of India and the Ministry of technology. So some part of the money has been received from the government side.

Growth Rate

Nikita says that the product is yet to be launched in the market so there is no revenue as such, But the amount of money that has been put in the company has grown and developed. And they have doubled their efficiency.

Targeted Audience

The product is yet to launch in the market so the area of their operation is to Focus on Tier 2 cities and Tier 1 &  Metro cities however the plan is to also launch in such a way that it benefits the Electric vehicle manufacturers.

Nikita says “the products are for the global market and there is no specific domain or target audience as such. ”

Team

Currently, there are 15 members of the team. This duo-founded startup consists of a research team and a marketing team. They also have certain members in finance and investment. The research team is very knowledgeable and has intensive knowledge in technology and battery technology.

Revenue Model

Revenue will be gained from the sales and the profit of the sales. There is an alternative source of revenue which is derived from the zero waste model. This biodegradable product can be used as manure or fertilizers and crops.

Competition

Any battery manufacturers in the market can be understood as competition. Whether it be lithium batteries or aluminum batteries, they will still be considered as competitors to this battery technology-based company.

nexus_power_screenshot

Nikita says “there is not necessarily a proper competition with biodegradable battery manufacturing companies as Nexus power is the first company to come up with the idea.”

However, she believes that any battery manufacturing can be understood as a competition.

Expansion Plans

The founders, Nikita and Nishita have a lot of plans for expansion. They want to spread through villages and the rural areas of India. There is a future plan in terms of location to set up a lot of manufacturing plants across the country and the world

Power Nexus Funding

Power Nexus has raised an undisclosed amount in its seed round from the like of Jito Angel Network.

SWOT Analysis

Strength Is the richness and experience of the team. There are a lot of people on the team who have a lot of experience in battery technology. There is support from the government of India so the backup can be considered as a strength.

nexus_power_swot

Weakness would be “the availability of technology and sources and manpower that are required for battery manufacturing,” Says Nikita.

Opportunities would surely be the market or bio-degradable and environmentally friendly batteries. This startup which is founded by twin sisters focuses on sustainability which exposes them to a lot of opportunities.

The threat will be that Alternative companies were working on the same idea and technology.

Nexus Power Founder

Nikita Baliarsingh, CIO, has a background in management, she did her master’s in media and marketing communications at XIMB  Bhubaneswar.

Nishita Baliarsingh, CEO, did product management and she is now approaching CA.

For the battery-making and technology industry, the founding sisters took courses from IIT Roorkee and IIM Bangalore as well in battery technology and energy storage systems.

Awards & Recognition

Nexus power has been awarded as the most innovative startup.

Recognized by the Government of Orissa.

More

Who is the CEO of Nexus power?

Nishita Baliarsingh

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