Funding

[Funding alert] European-based Battery Recycling Startup Circu Li-ion Secures €8.5 million in Seed Funding

Oct 24, 2023 | By Startup Rise EU

European battery recycling startup Circu Li-ion secured €8.5 million in seed funding, led by BonVenture and including €4.5 million in equity as well as support from an unidentified consortium of battery, AI, and industry experts as well as a sizeable involvement from the management team.
Team - Circu Li-ion

European battery recycling startup Circu Li-ion secured €8.5 million in seed funding, led by BonVenture and including €4.5 million in equity as well as support from an unidentified consortium of battery, AI, and industry experts as well as a sizeable involvement from the management team.

A European battery upcycling firm called Circu Li-ion is automating and scaling the disassembly of batteries and the diagnosis of cells for a more cost-effective and sustainable battery recycling.

Read also - Italy-based Startup Data Masters Secures €200K in Funding

Electric vehicles, micromobility, power tools, energy storage systems, and recycling are some of its use cases. In order to save money and help the planet, a Machine-as-a-Service solution upcycles spent batteries rather than recycling them.

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Antoine Welter, CEO and co-founder of Circu Li-ion said, "We're happy to double down on our development speed, turning this fresh funding into smarter, data-focused solutions that make battery recycling economically and ecologically viable for everyone. For this, the key is a great team – we will further invest in our team and double our size of currently 34 colleagues within the next twelve months."

Nikolaj Klebert, investment manager at BonVenture said, "Since the first contact with the outstanding team, we have been enthusiastic about the highly dynamic environment of battery up- and recycling in which they have occupied the field very early and taken a dominant role".

Circu Li-Ion, a highly technological and very creative solution, halts the present degradation of value, releasing previously unused potential down to the level of the individual cell. In addition, Circu Li-ion intends to boost the size of its Berlin satellite office and add 2,000 m2 to its main manufacturing facility near Karlsruhe, Germany.

Read also - UK-based Globacap Secures $21Million Series B Round Funding

About Circu Li-ion

A company in Europe that reuses batteries is known as Circu Li-ion. Our objective is to increase the value of each battery in order to save the environment. We began our quest in 2021 to automate and scale the battery disassembly and cell diagnostic processes for a more cost-effective and sustainable battery recycling. This will revolutionise the entire battery value chain.

Read also - Hungary-based Startup Flawless Secures $2.2 Mn in Seed Funding

Leading companies in the fields of electric vehicles, micromobility, power tools, energy storage systems, and recycling use our technology.

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