VFlowTech has raised $20.5 million in a funding round led by Granite Asia to accelerate its expansion into India’s renewable energy sector.

The round saw participation from Antares Ventures, EDBI, MOL PLUS, PSA Ventures, and existing investors including İnci Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First, the company said in a statement on Wednesday.

The funding will be used to upgrade VFlowTech’s 100 MWh manufacturing plant in India to a gigafactory and ramp up deployment of its Vanadium Redox Flow Batteries (VRFB) across the country.

The company also plans to expand its workforce in engineering, research, and operations to support the rollout of locally manufactured battery energy storage systems (BESS) tailored to India’s grid conditions, according to the statement.

Co-founder and chief executive officer of VFlowTech, Avishek Kumar said,“With our AI energy platform, we intend to build digital brains to India’s energy backbone, while scaling our local manufacturing capabilities and creating high-quality jobs in the country."