Anaphite raises $13.7m in Series A funding to scale dry-coating EV battery technology.
The round was co-led by World Fund and Maniv to expand the company production and research capabilities.
Anaphite develops advanced production technology for battery electrodes aimed at improving electric vehicle manufacturing efficiency.
Anaphite has secured $13.7m in a Series A funding round co-led by World Fund and Maniv, with participation from several climate technology investors.
The capital will be used to scale up in-house dry-coating capabilities, commission a new plant, support extensive hiring, and fund research and development to expand the company product portfolio.
The round builds on previous backing from Elbow Beach Capital, which led an earlier raise, and adds specialized climate and energy investors to the shareholder register as the firm looks to commercialise its composite cathode materials.
From the founder
"Securing capital from investors that are renowned specialists in mobility, energy, and environmental investment around the world, is a huge validation moment for Anaphite, and affords us the resources to extend our technical lead in the market. We are thrilled that transportation expert Michael Granoff has joined the company’s board, and that we are EEI’s first UK-based investment. We look forward to working with all our new partners as we take this next step in our global journey."
Joe Stevenson
CEO at Anaphite
Investor perspective
"Anaphite’s unique technology and smart, tenacious, market-savvy team are set to disrupt the global EV market. Their technology is genuinely market-leading, and will help the world transition to an eco-mobility future. The team has already made breakthroughs in lithium-ion battery production, and their technology will be applicable to a wide range of new battery technologies, including sodium-ion and solid state. Anaphite has the potential for exponential growth, and we at World Fund are proud to be supporting them as they grow."
Craig Douglas
Partner, World Fund
Use of funds
- 01Grow the team
- 02Fund research and development
- 03Scale operations
