Yotuh Energy, an Indian Institute of Technology Madras-incubated cleantech startup that specializes in electrifying vehicle refrigeration systems for mid-mile and last-mile cold chain logistics, has raised Rs 153 crore in a funding round led by Campus Angels Network.
Yotuh Energy was founded in 2022 by IIT Delhi alumni Vivek Mahindrakar, Shaivee Malik and Dharmik Bapodara and has received grants and awards from the Ministry of Agriculture, DST, MeitY, Acumen, ACIR (US Embassy India), IIT Madras Incubation Cell and Daimler India Commercial Vehicles.
Yotu Energy’s electric active refrigeration systems are powered by lithium-ion batteries, operate independently from the vehicle’s main engine and utilise proprietary adaptive control technology, enabling light commercial vehicles and commercial electric vehicles to be used in cold chain logistics and aid in the transport of fresh food within cities.
The investment will support Yotuh Energy’s product development, testing, operations and team expansion. The funds will be used, among other things, to enhance its proprietary adaptive control technology, eliminate fuel use, reduce operational costs and lead the industry towards greener and more efficient practices.
“Our goal is to make cold chain logistics more accessible, affordable and sustainable, leading the way towards a future driven by refrigeration innovation and advanced technology,” Yothu Energy co-founder Dharmik Bapodara said in a statement.
Vinod Dasari, former managing director of Ashok Leyland and former CEO of Royal Enfield, serves as an advisor to Yotu Energy. Dasari said: “Yotu Energy’s pioneering electric refrigeration technology represents a major advancement in cold chain logistics. The company’s focus on sustainability and efficiency is exactly what the industry needs moving forward, and we are excited to see how their solutions will transform the market.”
