Belgium-based battery materials startup Astracite has secured €1.13 million (~$1.3 million) in funding and grant support.

This includes an oversubscribed €750,000 (~$860,000) pre-seed financing round backed by CarbonFix, the ATechX Accelerator, IP Innovative Power, Carbon13, and angel investors, including Timothy Macken and Erol Íren.

The remaining €380,000 (~$436,000) in grants was provided by VLAIO, a Flemish government agency that supports innovation and entrepreneurship in Flanders, Belgium.

The company develops graphite-silicon composite anode material for lithium-ion batteries. Astracite said the material is designed to deliver more than five times the capacity of conventional synthetic graphite while maintaining long cycle life by embedding silicon within a graphite matrix.

Astracite said it will use the proceeds to support its next development phase. The company plans to optimize its anode material and production process, strengthen intellectual property protection, and design a pilot.

“This funding is an important milestone for Astracite as we are preparing to move from lab-scale to producing enough material for collaborating with potential customers,” said Christian Fink, CEO. “We are grateful for the confidence of our investors and grant partner, and we are now focused on delivering technical progress and building the foundation for the next steps.”

Beyond lithium-ion batteries, Astracite said its technology roadmap includes advanced materials for other battery chemistries, including sodium-ion batteries.

VC funding raised by energy storage companies in Q1 2026 increased 9% YoY, with $1.2 billion in 26 deals compared to $1.1 billion in 18 deals in Q1 2025, and a 44% increase in deal count, according to Mercom’s Q1 2026 Funding and M&A for Energy Storage report.

In November 2025, Nanoramic, an energy storage and advanced materials company, secured a total of $54 million for its Series 1 equity funding. The funding round includes a recent investment from new partner PEP Capital, Samsung Ventures, and Top Material. The funding also includes prior investments from co-leads General Motors Ventures and Catellus Capital, alongside ITOCHU Corporation, Fortistar Capital, and WindSail Capital Group.