Fundraising
Summary: Naveen Nayak islavath introduced themselves as Naveen Islavath, an undergraduate student at IIT Kharagpur and co-founder of a startup named LCM. LCM is focused on developing a climate tech device that can charge electric vehicles (EVs) while driving, increasing their range by up to 70%. Having already raised 12 Lakhs in government grants and 15 Lakhs from investors, the team is seeking an additional 40 Lakhs in funding. They have secured interest from industry leaders and are offering equity in their company to potential investors.
Greetings Sir/Madam
My name is Naveen Islavath, an undergraduate at IIT Kharagpur.
Along with my other 4 college mates, we have started a startup named LCM.
LCM is a provisionally patented climate tech device which charges an EV while driving and extends range up to 70%.
So far we have raised government grants of worth 12 Lakhs (equity free) and got selected in some of the world renowned accelerators and incubators such as IIM B NSRCEL, Atal Incubation centre, arise etc., with which we have completed iteration -2 of our product in which we have successfully made mechanical momentum transfer across the modules.
Now we are about to make an iteration-3 (final product) and integrate it into the EV car for final testing.
We have contacted and verified the feasibility of this product from industry giants such as CTO of maruthi suzuki, VP of mahindra and Tim Draper. They even provided their personal contact number asked to contact once we complete the product to look for the synergies.
For which we are in the requirement of a total sum of INR 55 Lakhs. In which we have already raised 15 Lakhs from investors.
We are still in the requirement of 40 Lakhs for which we will be offering equity in the company.
If you are interested please DM me.
email: naveenssc2019@gmail.com
Thanks and regards,
Naveen Islavath,
Team LCM.
.png?_a=BAVMn6E80){kind=small}