Circu Li-ion Raises €8.5M in Seed Funding
Summary
The recent funding included €4.5m in equity, which was led by BonVenture and saw additional backing from an undisclosed group of battery, AI, and industry experts, and a significant participation of the company’s management team. The investment is complemented by €4m in grants from the EICA (European Innovation Council Accelerator) and collaborations with recyclers and OEMs. Its machine-as-a-service solution offers the possibility to give used batteries a second life through upcycling instead of recycling – saving money and the planet. The company provides its technology in the space of electric vehicles, micro-mobility, tools, energy storage systems, and recycling. Alongside functional growth, the company plans to expand its main production facility near Karlsruhe, Germany to 2,000 m2, while further growing its Berlin satellite office.