Dutch Battery Startup LionVolt Closes €4 Million Seed Round Led by Innovation Industries
European battery start-up LionVolt announced today 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.
"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," said LionVolt CEO Karl McGoldrick. "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."
“This is an exciting milestone for LionVolt,” remarked LionVolt CTO and co-founder Dr Sandeep Unnikrishnan. “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.”
“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,” added Nard Sintenie, partner at Innovation Industries. “We are proud to work with LionVolt and support their mission to revolutionise the battery industry.”
“LionVolt is a strong example of the innovation occurring in the Brabant region of the Netherlands,” added Jurgen van Eck of the Brabant Development Agency (BOM). “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).
About LionVolt
Backed by more than seven years of R&D at the TNO Holst Centre, LionVolt is developing a 3D, solid-state, lithium metal battery. Its mission is to introduce next-gen batteries that are energy-dense, fast charging, safe, and efficient while being more environmentally friendly than traditional lithium-ion batteries. LionVolt’s design is 100% safe, weighs 50% less and provides 200% improved performance compared to the most advanced lithium-ion batteries available today. To learn more, visit www.lionvolt.com.
About Innovation Industries
Innovation Industries is a leading investment firm and strategic innovation partner for sustainable impact, leveraging deep industry expertise and rich deal flow in areas like semicon, photonics, robotics, medtech, agri&food tech, and mechatronics. We facilitate and drive the creation and broad adoption of sustainable deep-tech solutions and translate these opportunities into value for our investors and other stakeholders. We invest across all stages of development and our typical investment size ranges from €5M-€30M (cumulative). For more information on Innovation Industries, see: www.innovationindustries.com
About Brabantse Ontwikkelingsmaatschappij (BOM)
The Brabant Development Agency (BOM) works with entrepreneurs to create a future-proof Brabant economy. BOM shares knowledge, develops networks, and provides capital to innovative Brabant companies and sustainable energy projects. It also encourages forward-looking international companies to settle in Brabant and assist companies already based in Brabant to extend their reach abroad. BOM works to further economic growth, increase employment opportunities, present solutions to social issues, and secure a leading role for Brabant on the world stage. Over the last four years, BOM has worked with over 600 companies to catalyze change and achieve impact. For more information, please visit www.bom.nl
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211117006209/en/
Contact information
Rachel Pipan
info@lionvolt.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
DataXstream Expands into Nordic Region with Successful Go Live for Martin & Servera23.4.2024 15:07:00 CEST | Press release
DataXstream LLC, an SAP solution provider focused on order management and point of sale for sales and distribution, today announced it is expanding into the Nordic region after a successful implementation of its OMS+ platform across two key business units for the Martin & Servera group, Sweden’s leading restaurant and catering distributor that specializes in the needs of the restaurant industry. Learn more about DataXstream OMS+ here. Martin & Servera is a group of companies based in Stockholm who was faced with the challenge of managing multiple ERP systems that were facing end of life, so they decided to consolidate onto a single instance of SAP S/4 HANA for all their business units. As part of this migration, Martin & Servera turned to DataXstream’s OMS+ cross-channel order management platform to help them enable faster order entry and streamline their sales and order processes between all companies within their organization. Working with DataXstream’s LATAM delivery team, Kötthalle
Autel Energy’s Global ESG Launch Is A Success: Around 5,000 Trees Planted In EVergreen's Inaugural Tree Planting Initiative23.4.2024 15:00:00 CEST | Press release
Autel Energy, a leading provider of electric vehicle (EV) charging solutions and services, proudly announces the successful conclusion of its first EVergreen Global Tree Planting Initiative, which saw hundreds of participants around the globe plant an estimated 5,000 trees in the initial phase. This activity offsets an estimated 2,190,000 kilograms of carbon emissions (CO2), and emphasizes Autel Energy's and partners' commitment to their ESG goals towards a sustainable tomorrow. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423142946/en/ Autel Energy’s Global ESG Launch A Success (Graphic: Business Wire) Partner Experience and NGO Feedback Reflecting on the Initiative, one partner remarked, “We show the world we are not only talking about a better world and clean energy, but we are really taking steps by putting shovels in the ground.” The non-governmental organizations (NGO) involved expressed sincere gratitude for the
Ouro Partners with Bnext as Strategic Issuer for European Expansion Plans23.4.2024 14:00:00 CEST | Press release
Ouro, a global consumer financial services and technology innovator, and Bnext, a pioneering Spanish fintech, today announced a strategic partnership designating Bnext as Ouro’s strategic issuer in Europe for Ouro’s portfolio of consumer financial brands and products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423392141/en/ Roy Sosa, co-founder and CEO of Ouro (Photo: Business Wire) Ouro’s innovative payments portfolio includes its flagship Netspend brand that pioneered prepaid debit for underserved U.S. consumers looking for better access to payment products, and X World Wallet, its cashback-earning multicurrency wallet and payments app for international travelers and digital nomads looking for more convenience and value for their money. “The Bnext team has a proven track record of innovation and understanding of the customer needs of a growing European market for next generation payment products and services,” said
NetApp’s 2024 Cloud Complexity Report Reveals AI Disrupt or Die Era Unfolding Globally23.4.2024 14:00:00 CEST | Press release
NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today released its second annual Cloud Complexity Report. The report analyzes the experiences of global technology decision makers deploying AI at scale and shows a stark contrast between AI leaders and AI laggards. This year’s report provides global insights into the progress, readiness, challenges, and momentum since last year’s report, what we can learn from both the AI leaders and AI laggards, and the critical role of a unified data infrastructure in achieving AI success. “AI is only as good as the data that fuels it,” said Pravjit Tiwana, General Manager and Senior Vice President of Cloud Storage at NetApp. “Both the AI leaders and AI laggards show us that in the prevailing hybrid IT environment, the more unified and reliable your data, the more likely your AI initiatives are to be successful.” There is a Significant Divide Between AI Leaders and AI Laggards The report found a clear divide between AI leaders and
Moody’s Teams Up with the New York Giants and New York Jets as the New Cornerstone Partner of MetLife Stadium23.4.2024 14:00:00 CEST | Press release
Moody’s Corporation, the world’s leading source of bold, clear and perceptive insights on exponential risk, announced today that it has been named an Official Cornerstone Partner of MetLife Stadium, home of the New York Jets and New York Giants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423976836/en/ (Graphic: Business Wire) As part of the multi-year partnership, Moody’s branding will be a mainstay at MetLife Stadium events, extending throughout the stadium with in-bowl signage and digital displays. Guests will first be greeted at the Moody’s Gate (pictured above) and then pass through an activation area on the plaza. Moody’s is also the naming rights partner of the Moody’s Commissioners Club, a spectacular private space in the Stadium offering guests unparalleled views and unique experiences at events. “In trying to find organizations that align with Moody’s renewed brand of decoding complexity and finding a path fo