The Series A round was led by IQ Capital with backing from Cambridge Enterprise and Silicon Valley investors.
"Nyobolt batteries remove the limitations presented by conventional lithium-ion batteries. They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery technology and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries."
— Sai Shivareddy, Co-founder and Chief Executive Officer
The financing round was co-led by IQ Capital, Parkwalk Advisors and BGF to scale the company's product range and double headcount.
"This latest round of investment is a great recognition of our success to date, with new and existing investors confirming the strength of our technology. Since 2016, CGD has grown significantly and we are thrilled to be in a position to deliver several products to market, following decades of industry-leading research in reliability of power devices. This investment will allow us to supplement our experienced team with additional experts and expand our markets globally, creating more sustainable electronics worldwide."
The seed round was led by Episode1 with backing from Seedcamp, Cambridge Enterprise, and January Ventures to fund DNA testing kits and platform development.
"We urgently need more people contributing to medical science, but the gap between those wanting to take part and actually knowing how to is huge. The scientific community has long relied on time-starved doctors signposting patients to clinical trials which just isn’t an effective way to get decent levels of participation. The pandemic has added further challenges, as many patients with rare and chronic diseases are unable to safely leave home."
Parkwalk led the follow-on investment round to support the market launch of the company's mental health assessment tool.
"Diagnosing mental health issues correctly in primary care can be difficult, due to time constraints and the fact that mental health conditions can be masked by physical symptoms. Delays in diagnosing—or misdiagnosis—mean that it can take several years for an individual with depression to be correctly diagnosed. For bi-polar disorder the average delay is six to eight years. The consequence of this is that many people suffer unnecessarily from debilitating symptoms that could be successfully treated. It is clear that faster and earlier diagnosis followed by the most appropriate treatment will improve the quality of life of affected individuals, while at the same time relieving pressure on the healthcare system"
Amadeus Capital Partners led the Seed round, with backing from Ahren Innovation Capital, IQ Capital, Cambridge Enterprise, Martlet Capital, and Seraphim Capital, to fund new labs and recruitment.
"Our aim is to enable the potential of quantum mechanics using quantum photonics hardware. This funding will allow us to do just that – a world-class multidisciplinary team and our new laboratories will give Nu Quantum the ability to deliver meaningful demonstrations of our technology into the hands of customers and partners for the first time."
