Addionics funding news – London-based Addionics Secures $39Million in Series B Round Funding

The money will be utilised to expand the company's international business endeavours and strengthen its production skills. With this financing, Addionics will be able to expand its manufacturing and commercialisation operations, hire more staff globally, and move forward with building its giga-factory in the US, which will be used to produce Addionics 3D Current Collectors.

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The industry leader in 3D current collector production, it significantly improves battery performance and manufacturing. Batteries utilising it have faster charging times, more power, and superior stability due to better heat dissipation throughout the electrodes. This results in cheaper cost, higher-performing batteries.

Rapid deployment and cost-effective production are made possible by the manufacturers' ability to easily combine the 3D Current Collectors with the Addionics drop-in solution.Moshiel Biton, CEO and Co-Founder of Addionics said, “Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege, As the global demand for higher performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally.”

This new round of funding will support the development of it's 3D Current Collector solution production facilities, expedite commercial distribution for top partners, and fortify research and development activities aimed at creating the best-in-class EV battery technology. The money will assist in meeting the increasing demand for it 3D Current Collectors, since the company collaborates with most of the top 10 global vehicle OEMs and battery manufacturers.

Anirvan Coomer, Managing Director, GM Ventures said, “GM’s investment supports our broader mission of identifying, investing in, and developing the right technology that will enable our all-electric future, Addionics’ current collector design shows promise in enabling improved battery performance at a lower cost. We are eager to support the company’s growth and look forward to continuing to explore opportunities to collaborate in the future.”

Dr. Eyal Kishon of Deep Insight said, "We are proud to co-lead this funding round and continue our support of Addionics in their journey to bring to market their groundbreaking battery technology," “Their unique 3D Current Collector solution promises significant improvements to make better, more powerful batteries, aligning with our vision of investing in disruptive technologies to drive worldwide progress."

Jessica Persson, Head of VC and M&A at Scania said, “Scania is dedicated to fostering advancements that contribute to a sustainable and efficient future. Addionics' revolutionary approach to battery technology aligns with our mission to enhance the performance and sustainability of next-generation zero emission solutions," “We are proud of our investment in Addionics and look forward to the impact their technology will have on the future of batteries and electric vehicles.”

About Addionics

Addionics is a rapidly expanding startup with headquarters in the US, the UK, and Israel. It has redesigned the architecture of their rechargeable batteries to produce enhanced and customised batteries. By utilising an innovative and patent-pending 3D metal fabrication process, we improve battery performance, mileage, safety, cost, and charging time.