Low Carbon Innovation Fund 2 is a venture capital fund managed by Turquoise that invests in eligible small and medium-sized businesses based in England developing environmentally beneficial products and services.
Legal & General Capital and Barclays Sustainable Impact Capital co-led the Series A round to support manufacturing expansion and international growth.
"Today’s funding announcement clears our path to sustainable growth for years to come. It is a vote of confidence from the market in our vision, our technical capabilities and our mission to rid EV motors of harmful and problematic materials. Everyone at AEM and our new partners are excited for the role we are now able to play in making the electric vehicle sector truly sustainable."
The funding round was led by ENGIE New Ventures with participation from Low Carbon Innovation Fund 2, Sumitomo, and Macquarie.
"We almost double the working life of the batteries for vehicles and thereby greatly increase the value created from the resources already embedded in them. Our objective is to provide our end-customers with bankable energy storage systems and our battery supply partners with reliable routes to market for their second-life batteries,"
The follow on round was led by Turquoise International with backing from the Future Fund and existing investors.
"We are delighted to welcome LCIF2 as an investor in KisanHub. This investment will enable us to grow the business in the UK and Europe and strengthen our links with local and national governments"
