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Addionics, a leader in battery technology, has raised $39 million in its Series B funding round, led by GM Ventures and Deep Insight. The funds will support the expansion of Addionics’ innovative 3D Current Collector solution, enhancing manufacturing capabilities and global business growth. This investment will also aid in the construction of a US-based giga-factory.
Key Highlights:
- $39 million Series B funding led by GM Ventures and Deep Insight
- Participation from Scania and other strategic investors
- Funds to bolster manufacturing capabilities and global business engagements
- Plans to expand team and commercialization efforts globally
- Construction of US-based giga-factory for 3D Current Collectors
Addionics is revolutionizing battery technology with its 3D Current Collectors, which offer significant benefits, including faster charging times, increased power, and improved stability. The drop-in solution allows for seamless integration, resulting in cost-effective production and rapid deployment.
“Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege,” said Moshiel Biton, CEO and Co-Founder of Addionics. “As the global demand for higher-performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally.“
The new financing will pave the way for future manufacturing facilities, enabling faster commercial distribution and solidifying R&D efforts. Collaborating with major global automotive OEMs and battery manufacturers, the funding will help meet the growing demand for Addionics’ 3D Current Collectors.
“GM’s investment supports our broader mission of identifying, investing in, and developing the right technology that will enable our all-electric future,” said Anirvan Coomer, Managing Director, GM Ventures. “Addionics’ current collector design shows promise in enabling improved battery performance at a lower cost. We are eager to support the company’s growth and look forward to continuing to explore opportunities to collaborate in the future.“
“We are proud to co-lead this funding round and continue our support of Addionics in their journey to bring to market their groundbreaking battery technology,” said Dr. Eyal Kishon of Deep Insight. “Their unique 3D Current Collector solution promises significant improvements to make better, more powerful batteries, aligning with our vision of investing in disruptive technologies to drive worldwide progress.“
“Scania is dedicated to fostering advancements that contribute to a sustainable and efficient future. Addionics’ revolutionary approach to battery technology aligns with our mission to enhance the performance and sustainability of next-generation zero-emission solutions,” said Jessica Persson, Head of VC and M&A at Scania. “We are proud of our investment in Addionics and look forward to the impact their technology will have on the future of batteries and electric vehicles.“
For more information about Addionics and their innovative battery technology, please visit www.addionics.com.
About Addionics:
Addionics is a leading manufacturer of 3D Current Collectors™ powering the next generation of batteries. The company’s low-cost drop-in solution seamlessly integrates into existing production facilities, allowing battery manufacturers and automakers to increase production capacity while reducing manufacturing costs. By revolutionizing the internal physical structure of the battery, Addionics’ 3D Current Collectors significantly improve performance regardless of battery chemistry. Founded in 2017, Addionics operates in the UK, Israel, the US, and Germany.
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