Groundbreaking 3D solid-state technology, dutch battery startup LionVolt closes €4 million seed round led by innovation industries.
European battery start-up LionVolt announced it has successfully closed a seed round of €4 million, bringing its total funding this year to more than €5 million.
The round was led by deep tech venture capital firm Innovation Industries and joined by Brabant-focused startup fund Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and renowned investor Sake Bosch. LionVolt spun off last year from TNO at Holst Centre, building on six years of research and development of its innovative battery design.
The funding will support the company’s development of a solid-state lithium-ion battery that is more efficient and sustainable than any lithium-ion battery available on the market today. LionVolt’s cutting edge design delivers higher energy density, faster charging, and a longer lifespan – leading to fewer batteries used (and disposed of) over time. The LionVolt battery will power technology in several industries, including wearable devices, electric vehicles (EVs) and aviation.
Karl McGoldrick, LionVolt CEO.
The battery industry requires a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability.
“We are pioneering that solution while building a strong ecosystem to support this innovation.”
“The support of TNO and our investors will not only bring our R&D to its next stage but will further establish the Netherlands as a hub of Climate Technologies.”
Dr Sandeep Unnikrishnan, LionVolt CTO and co-founder.
This is an exciting milestone for LionVolt.
“We are creating batteries that will transform the energy sector in terms of safety, energy density and performance. LionVolt is proud to continue its game-changing innovation from the Brabant region.”
Nard Sintenie, partner at Innovation Industries.
LionVolt’s new technology will provide consumers with better, longer-lasting batteries while also contributing to the adoption of exciting technologies like wearables and electric cars.
“We are proud to work with LionVolt and support their mission to revolutionise the battery industry.”
Jurgen van Eck of the Brabant Development Agency (BOM).
LionVolt is a strong example of the innovation occurring in the Brabant region of the Netherlands
“The BOM invests in LionVolt because the company has enormous potential. Almost 80 percent of the supply chain the company needs to build a production line can be sourced locally. LionVolt could be one of the next big OEM’s in the Brainport region.”
Earlier this year LionVolt already raised a €1.25 million pre-seed round from TNO, deep tech venture capital firm Innovation Industries, impact fund Goeie Grutten, and Brabant-focused early stage investment Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).
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Dutch Battery Startup LionVolt Closes €4 Million Seed Round Led by Innovation Industries, EINDHOVEN, Netherlands, November 18, 2021
