Meridian Global Ventures Advances Stake in Cygni Energy with New Funding Round

Meridian Global Ventures is positioning to increase its stake in Cygni Energy to 49.23% through a funding round of ₹60 crore, which involves issuing 416,667 compulsorily convertible preference shares at ₹1,440 each. This capital infusion follows nearly four years since Cygni's last major fundraising and comes amid a strategic push to bolster its manufacturing and technology initiatives in the lithium-ion battery market.

Despite a decline in revenue to ₹38.4 crore in FY25 and rising losses of ₹8.64 crore, Meridian's investment reflects confidence in Cygni's technological capabilities and long-term prospects. The funding is crucial for expanding Cygni's battery solutions and enhancing its competitive edge in India's growing clean energy landscape, which may lead to improved economies of scale in the future.