Nexus Power is a Bhubaneswar-based startup developing rechargeable, bio-organic, lithium-free batteries made from crop residue for EVs and energy storage.

This Startup Deep Dive explains what Nexus Power does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

Nexus Power in Brief

• What it is: Nexus Power is an Indian Bio-organic batteries company based in Bhubaneswar.
• Who it serves: businesses, institutions, consumers, learners and public-sector buyers.
• Develops rechargeable bio-organic biodegradable batteries synthesised from crop residue
• Designs cells as direct replacements for lithium batteries; claims parity with LFP on energy density, cycles and capacity
• Targets OEMs and energy storage builders in two-wheelers, three-wheelers, golf carts and BESS
• Funding: About $890K across rounds per one tracker (crowdsourced).

Nexus Power Quick Facts

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is Nexus Power?

Nexus Power operates in the Bio-organic batteries space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to Nexus Power.

• Develops rechargeable bio-organic biodegradable batteries synthesised from crop residue
• Designs cells as direct replacements for lithium batteries; claims parity with LFP on energy density, cycles and capacity
• Targets OEMs and energy storage builders in two-wheelers, three-wheelers, golf carts and BESS
• Products are in trial and pilot stages with marginal pilot revenue; certifications still pending

The Origin Story of Nexus Power

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

• Founders: Nishita Baliarsingh, Nikita Baliarsingh.
• Twin sisters Nishita and Nikita Baliarsingh began discussing environmental action on their terrace
• A 2020 lockdown experiment showed crop residue could produce battery voltage
• Founding year reports differ: 2019 or 2020
• Early support came as government grants (Startup Odisha, MeitY, DBT, BIRAC)

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the Bio-organic batteries sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

• 2020: lockdown experiment shows crop residue can generate voltage
• January and April 2022: seed rounds per one tracker
• April 2022: JITO Angel Network invests an undisclosed amount
• June 2024 and May 2025: further rounds per one tracker
• Later: pilot line in Bhubaneswar being scaled; PSU trials and Odisha government projects ongoing

Nexus Power Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

• April 2022: undisclosed, JITO Angel Network
• Other investors listed by one tracker: L'AcceleratOR, ONGC Startup, IIM Udaipur, Pontaq, JITO Incubation and Innovation Foundation
• Individual round amounts not shown in sources read

How Does Nexus Power Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to businesses, institutions, consumers, learners and public-sector buyers, sales cycles and contract size matter as much as headline growth.

• B2B sales of battery cells to OEMs and storage developers
• Plans to scale via larger production lines and partnerships with institutes that have manufacturing facilities
• Renting specialised equipment and lab space in the interim

The Numbers: Nexus Power Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

• Pilot revenue described as marginal; no audited figures found

Market Opportunity for Nexus Power

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising digital adoption, cloud and mobile penetration, growing enterprise technology spending, government digitisation programmes and a deep pool of engineering talent. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

• Aims to cut reliance on lithium, nickel and cobalt in EV batteries
• Company claims 30-40% lower cost than lithium-ion (reports differ: over 40% in one article)

Technology and Product at Nexus Power

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are product quality, data and integration depth, security, scalability and the speed of shipping improvements.

• Proprietary Peptide Crystal battery chemistry using nano crystal cells from unburnt crop residue
• Bio-based materials synthesised in-house

Team and Culture at Nexus Power

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

• Nishita Baliarsingh is co-founder and CEO
• Nikita Baliarsingh is co-founder (labelled CIO in one article)
• Recruitment is a stated focus for expansion

Nexus Power Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

• Direct competitors of Nexus Power vary by product line; a verified rival comparison was not available from public sources.
• What to compare: Product readiness, pricing, customer base, funding runway and regulatory standing.

Risks and Challenges for Nexus Power

• Commercial sales require certifications not yet completed
• Small scale pilot line
• Competition: low barriers to entry and well-funded rivals can compress pricing and slow growth.
• Funding risk: technology businesses often burn cash before reaching profit and depend on investor appetite.
• Customer concentration: reliance on a few large customers or channels can make revenue volatile.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Nexus Power Growth Outlook: What to Watch

• Scale the Bhubaneswar pilot line within months and acquire larger production lines
• Long term, grow into a broader energy innovation company
• Key indicators: recurring revenue, customer retention, gross margin, customer acquisition cost and runway.
• Funding position: Whether Nexus Power can reach its next milestone before needing new capital.
• Regulation: Changes from data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Industry Context: Where Nexus Power Fits

India's technology startup ecosystem is one of the largest in the world, supported by cheap data, a large base of smartphone users, digital public infrastructure and a deep engineering talent pool. Companies now build for education, software, mobility, logistics, agriculture, defence, media and more, selling both to Indian customers and abroad.

Durable technology companies usually combine a clear customer problem with repeatable distribution and disciplined unit economics. Growth funded only by spending tends to fade, while products that customers keep using and paying for build compounding advantages.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for Nexus Power

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for Nexus Power.

Bull case

• A large and growing base of digital users and businesses expands the addressable market.
• Recurring revenue and strong retention can compound growth.
• Selling into global markets widens the opportunity beyond India.

Bear case

• Heavy competition can compress pricing and margins.
• Dependence on external funding can force painful cost cuts.
• Regulation or platform changes can disrupt a product quickly.

Lessons Founders and Investors Can Take from Nexus Power

Studying a company in the Bio-organic batteries space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about Nexus Power.

• Solving a clear, frequent customer problem matters more than adding features.
• Retention and repeat usage are better health signals than sign-ups.
• Disciplined spending extends runway and keeps options open when funding tightens.
• Distribution, not just product quality, decides who wins in crowded markets.
• Building trust through data protection and reliability is part of the product.

How to Evaluate Nexus Power as a Startup

• Customer clarity: Can Nexus Power name its customer and the problem it solves in one sentence?
• Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
• Economics: Check whether margins improve as volume grows.
• Execution: Compare announced timelines with what has actually been delivered.
• Funding runway: Estimate how long current capital lasts at the present spending rate.
• Regulatory standing: Confirm required approvals are in place.
• Customer concentration: Check whether a few customers account for most of the revenue.
• Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

Nexus Power is part of India’s growing Bio-organic batteries ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

• Clear customers and repeat demand matter more than announcements.
• Regulation and capital needs shape how fast a startup in this sector can grow.
• Track a few leading indicators over time rather than one headline metric.

Nexus Power FAQs: Frequently Asked Questions

What is Nexus Power?

Nexus Power is a Bhubaneswar-based startup developing rechargeable, bio-organic, lithium-free batteries made from crop residue for EVs and energy storage. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded Nexus Power?

Nexus Power was founded by Nishita Baliarsingh, Nikita Baliarsingh, and the company reports a founding year of 2020.

How much funding has Nexus Power raised?

About $890K across rounds per one tracker (crowdsourced). Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does Nexus Power make money?

Nexus Power earns revenue from its Bio-organic batteries products and services sold to businesses, institutions, consumers, learners and public-sector buyers. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of Nexus Power?

Competitors of Nexus Power depend on the specific product line. A verified comparison was not available, so see the evaluation checklist above.

What are the main risks for Nexus Power?

Main risks include competition: low barriers to entry and well-funded rivals can compress pricing and slow growth, funding and capital needs, competition and regulation by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules. This is educational content, not investment advice.

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Source

Source: Publicly available data, published reports, industry research, and other credible sources.