Addionics raises £20.1m in Series A funding led by Deep Insight to scale battery development.
Deep Insight led the Series A round to support commercialisation and team expansion.
Addionics manufactures smart 3D current collectors designed to enhance battery performance while reducing production costs. The technology integrates into existing manufacturing lines to improve capacity, safety, and charging times across various battery chemistries.
Addionics has secured £20.1m in a Series A funding round led by Deep Insight to scale up its battery architecture development. The financing saw participation from Catalyst Fund, Delek Motors, and Dr. Boaz Schwartz, alongside a broad group of strategic backers and financial institutions including Novelis, Magna International, and JX Nippon Mining and Metals.
The capital will be directed towards advancing technology capabilities, expanding the workforce, and growing operations in the United States and Germany. Addionics aims to bring its drop in manufacturing solution closer to commercialisation by 2024, targeting the electric vehicle sector and other high performance applications.
From the founder
"With the backing of our esteemed investors and strategic partners, Addionics is forging a clear path to market disruption and is well-positioned to deliver higher performing, lower cost batteries at scale"
Moshiel Biton
CEO and co-founder at Addionics
Investor perspective
"At Catalyst Fund, we align closely with Addionics’ mission of revolutionizing the energy storage industry and supporting a net zero future"
Yair Shamir
Managing Partner, Catalyst Fund
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
Deep Insight
Yair Shamir
Catalyst Fund
Delek Motors
Novelis
Magna International
JX Nippon Mining and Metals
Union Tech Ventures
8090 Partners
GiTV
Talcar Corporation
Bridges Israel
Doral Energy Tech Ventures
NextGear Ventures
Magna Capital Partners
Vasuki Global Tech Fund
Categories
About the company
Addionics
Addionics manufactures 3D current collectors that improve battery performance.