Battery technology leader Addionics has secured a Series B funding round of $39 million, co-led by GM Ventures and Deep Insight, with participation from Scania and other strategic investors. This funding will be used to enhance manufacturing capabilities and global business engagements.
The funding will allow Addionics to expand its teams worldwide and advance its manufacturing and commercialization efforts, including the construction of a US-based giga-factory for the production of Addionics 3D Current Collectors. These collectors drive significant battery manufacturing and performance benefits, including faster charging times, increased power, and improved stability, leading to better-performing batteries at a lower cost.
The Addionics drop-in solution enables seamless integration of the 3D Current Collectors, facilitating cost-effective production and rapid deployment for manufacturers. This funding round paves the way for future manufacturing facilities for the Addionics 3D Current Collector solution, aiding in faster commercial distribution for leading partners and reinforcing R&D efforts to develop top-notch EV battery technology.
Addionics is working with major automotive OEMs and battery manufacturers to meet the rising demand for its 3D Current Collectors. CEO and Co-Founder Moshiel Biton expresses optimism about beginning commercial production by the end of the year and enhancing battery performance globally with the new funding.
Key investors like GM Ventures, Deep Insight, and Scania are enthusiastic about supporting Addionics’ mission to bring groundbreaking battery technology to the market and drive progress towards a sustainable and efficient future.
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