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Hyderabad (Telangana) [India], August 27 (ANI/NewsVoir): Hyderabad-based Cygni Energy Private Limited, a leading technology-led energy storage company, announced that it has raised funds of USD 12.5 Million (Rs 100 Crores) through a combination of Equity and Debt. The equity funding is led by Meridian Global Ventures and the debt by Indian Overseas Bank, a leading Nationalised Bank in India. The company will use the funds to fuel product development, business growth, grow the engineering division to fast-track the product development cycle and set up a new greenfield manufacturing facility in the state of Telangana. Cygni is one of the first companies to implement battery swapping in its products for dockless applications and its storage solutions are designed with a safety-first objective. Cygni has technology collaboration with IIT Madras and also works with several OEMs to provide application-specific designs. The first company to be recognized under the 'Make in India' (Sta

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