A high-power ultrafast charging tech firm which warned it could go bust last year has been crowned a unicorn in a fresh round of funding.
Cambridge-based Nyobolt warned in early January 2025 that it could run out of funds in late Q1 2025 if it didn’t raise investment.
Last summer it raised £23 million to allay those fears. Now it has raised a further £44m, at a $1 billion valuation, in a Series C round led by Nasdaq-listed Symbotic, a leader in AI-enabled robotics technology for the supply chain.
IQ Capital, Latitude (Phoenix Court), Scania Invest and CBMM participated in the round.
The company is targeting autonomous machines, physical AI applications and AI data centres with its high-power ultrafast charging and energy storage tech.
Nyobolt claimed last year that its energy storage and fast-charging technologies deliver up to 20x more power, charging in minutes and cutting downtime for even the most power-intensive applications to zero.
Its revenue grew five-fold last year as demand surged for instant power across the physical AI applications and AI data centre markets.
“Nyobolt is enabling the always-on, always-moving infrastructure that physical AI demands,” said Sai Shivareddy, co-founder and CEO (pictured).
“The enterprises deploying autonomous systems at scale can’t afford downtime, swap time, or power flickers.
“Our technology delivers a powerful trifecta: improved performance, exceptional durability, and a more sustainable operation, enabling a new generation of machines to run harder and smarter.”
Nyobolt’s commercial traction spans some of the most advanced autonomous robotics deployments in the world. For Symbotic’s SymBot autonomous mobile robots, Nyobolt says its performance battery delivers six times more energy capacity than the ultracapacitors previously used, is 40% lighter, and achieves at least 10 times the cycle life of traditional Lithium-Ion technology, enabling continuous, high-intensity 24/7 operations across Symbotic’s warehouse deployments.
“We’re proud to partner with Nyobolt and invest in the next phase of their growth,” said Symbotic chief strategy officer Bill Boyd.
“Nyobolt’s proven technology is a key enabler of enhanced uptime and efficiency for our customers, and we’re excited about the overall market potential of a new instant power infrastructure across multiple applications.”
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In addition, Nyobolt is expanding its commercial traction beyond Symbotic to other robotics companies and applications, including with a leading humanoids developer to increase work-to-charge ratios for their humanoid robots.
Unlike data centre workloads, physical AI systems operate in dynamic, unpredictable environments, placing extreme and variable demands on their power sources. Traditional battery technology simply was not designed for this type of environment.
Nyobolt says its proprietary tech stack addresses the core limitations holding back today’s autonomous systems.
Nyobolt is also expanding its footprint into India, signing a Memorandum of Understanding with the state of Rajasthan to bring more than 100MW of off-grid AI data centres and power management infrastructure to one of the world’s fastest-growing digital economies.
The Rajasthan partnership marks the first of what Nyobolt expects to be a broader presence across multiple Indian states, with a particular focus on renewable energy integration and grid-independent energy storage.
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