Chennai, India – August 19, 2024 – Yotuh Energy Private Limited, an innovative clean tech startup specializing in electrifying vehicle refrigeration systems for mid-mile and last-mile cold chain logistics, incubated at IIT Madras Incubation Cell, has successfully closed a ₹1.53 Crore funding round led by Campus Angels Network.
Yotuh Energy, founded in 2022 by IIT Delhi alumni Vivek Mahindrakar, Shaivee Malik, and Dharmik Bapodara, originated from their formula racing team with a vision to build sustainable technologies in India. The company has received grants and awards from the Ministry of Agriculture, DST, MeitY, Acumen, ACIR (US Embassy to India), IIT Madras Incubation Cell, and Daimler India Commercial Vehicles.
Yotuh Energy’s electric active refrigeration system, powered by a Lithium-Ion Battery, operates independently of the vehicle’s main engine and features proprietary adaptive control technology. Their technology is creating a new market for intra-city perishable transportation by enabling Small Commercial Vehicles and Commercial EVs for cold chain logistics.
Leadership Insights
Dharmik Bapodara, Co-Founder, Yotuh Energy: “This funding will significantly enhance our product development, testing, and operations. Our goal is to make cold chain logistics more accessible, affordable, and sustainable, steering us towards a future driven by innovation and advanced technologies in refrigeration systems.”
Chandran Krishnan, Managing Director & CEO, Campus Angels Network: “Yotuh Energy’s innovative approach aligns perfectly with our investment philosophy. We believe their electric refrigeration systems will revolutionize cold chain logistics, enhancing efficiency, sustainability, and offering substantial cost savings to the industry.”
Vinod Dasari, former Managing Director of Ashok Leyland and ex-CEO of Royal Enfield, and Advisor to Yotuh Energy: “Yotuh Energy’s pioneering electric refrigeration technology represents a major advancement in cold chain logistics. Their focus on sustainability and efficiency is exactly what the industry needs to move forward, and I am excited to see how their solutions will transform the market.”
Building Momentum for Business Growth
This investment will support Yotuh Energy’s product development, testing, operations, and team expansion to accelerate their vision of transforming cold chain logistics. By pioneering electric refrigeration systems, this funding will enhance their proprietary adaptive control technology, eliminate fuel usage, reduce operational expenses, and drive the industry towards greener and more efficient practices.
