Waaree Energy Storage Systems, the battery storage arm of solar module manufacturer Waaree Energies, has raised Rs 10 billion ($113 million) from several investors. The round was led by Niveshaay, which invested around Rs 1.28 billion ($14.4 million). Other investors included high-net-worth individuals. The proceeds will be utilised to expand cell and pack manufacturing, strengthen engineering and validation, and scale up containerised battery energy storage systems (BESS) across India and global markets.
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