Addionics gets more funding for smart 3D electrode battery tech
It closed a $27 million Series A funding round to scale up the development of next-generation battery architectures with its chemistry-agnostic technology to help its customers deliver higher performing, lower-cost batteries at scale.
Addionics today announced it has raised $27 million in a Series A funding round to scale up its efforts to redesign battery architecture using its smart 3D electrodes, which it says improves the cost and performance of batteries with any chemistry — existing or emerging.
The funding round for the chemistry-agnostic battery technology company was led by Deep Insight, a deep tech investment firm founded and backed by Jeff Horing, the founder of Insight Partners, together with Catalyst Fund, Delek Motors, and Dr. Boaz Schwartz. Additional investments include strategic and financial support from Novelis, Magna International, JX Nippon Mining & Metals