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Cirba Solutions, a provider of end-to-end battery recycling management solutions, <a href="https://cms.mercomindia.com/cirba-solutions-raises-50-million-for-battery-recycling/" target="_blank" rel="noopener">received</a> a $50 million minority investment from Tokyo-based Marubeni Corporation. Cirba says this investment supports its ongoing efforts to rapidly expand its operational footprint, addressing the market’s needs to create a sustainable closed-loop battery materials supply chain.
Integrated solar tracker and software solutions firm NEXtracker, a subsidiary of diversified manufacturing company Flex, has <a href="https://mercomindia.com/solar-tracker-nextracker-raises-638-million-in-ipo/" target="_blank" rel="noopener">raised</a> $638 million in an initial public offering (IPO) by selling 26.6 million shares at $24 per share. The shares started trading on the National Global Select Market on February 9, 2023. NEXtracker has also granted the underwriters a 30-day window to buy up to an additional 3.99 million shares at the IPO prices.
Ionblox, a developer of high-energy density lithium-ion batteries, <a href="https://cms.mercomindia.com/high-density-lithium-ion-battery-developer-ionblox-raises-funding/" target="_blank" rel="noopener">announced</a> the second close of its Series B funding round, totaling $32 million. Lilium and Applied Ventures led the additional funding round, with participation from Temasek and Catalus Capital. The additional funds will be used to advance the company’s technology, develop high-power batteries for electric aviation, and prototype fast-charging batteries for electric vehicles.
Turno, a commercial electric vehicle (EV) distribution and financing platform, has <a href="https://mercomindia.com/ev-firm-turno-raises-13-8-million-in-a-funding/" target="_blank" rel="noopener">raised</a> $13.8 million in series A funding which would be used to build proprietary battery technology and scale across the country. The funding round was co-led by global venture capital firms B Capital and Quona Capital. The company plans to use the funding for a proprietary battery tech platform to address issues around end-of-life battery value amid concerns around EV batteries and e-waste globally.
VFlowTech, a manufacturer of vanadium-based redox flow batteries, has <a href="https://cms.mercomindia.com/flow-battery-manufacturer-vflowtech-raises-10-million/" target="_blank" rel="noopener">raised</a> $10 million in a Series A funding round. Japan-based venture capital firm Real Tech Holdings led the investment round. VFlowTech plans to use the new funds to set up a 200 MWh production line capacity, scale up the manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions and expand into new markets such as Türkiye, the U.S., Japan, and India.
Quino Energy, a startup focusing on organic flow battery technology, <a href="https://cms.mercomindia.com/flow-battery-startup-quino-energy-secures-1-25-million/" target="_blank" rel="noopener">raised </a>an additional $1.25 million in funding to supplement its Series Seed financing round. The round brings the total raised in the financing round to $4.55 million. The funding was provided by Energy Revolution Ventures and Doral Energy Tech Ventures, while TechEnergy Ventures increased the size of their earlier investment.
Solaria, a solar technology, services, and installation company, has <a href="https://www.businesswire.com/news/home/20230213005216/en/Complete-Solaria-Announces-Strategic-Investment-from-Kleiner-Perkins-Chairman-John-Doerr" target="_blank" rel="noopener">received</a> a $10 million strategic investment from Foris Ventures, an entity affiliated with John Doerr, Chairman of Kleiner Perkins. The investment is part of a $30 million bridge round in support of Complete Solaria’s previously announced business combination with Freedom Acquisition I Corp. This $10 million strategic investment is in addition to progress on the bridge funding, which included a $14.2 million investment from T.J. Rodgers, $3.5 million from Freedom’s sponsors, and $2 million from other investors.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-ev-battery-maker-one-raises-300-million-in-series-b-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Cirba Solutions Raises $50 Million for Battery Recycling

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-cirba-solutions-raises/" target="_blank" rel="noopener">Mercom Capital Group</a>
Cirba Solutions, a provider of end-to-end battery recycling management solutions, <a href="https://mercomcapital.com/cirba-solutions-raises-50-million-for-battery-recycling/" target="_blank" rel="noopener">received</a> a $50 million minority investment from Tokyo-based Marubeni Corporation. Cirba says this investment supports its ongoing efforts to rapidly expand its operational footprint, addressing the market’s needs to create a sustainable closed-loop battery materials supply chain.
Integrated solar tracker and software solutions firm NEXtracker, a subsidiary of diversified manufacturing company Flex, has <a href="https://mercomindia.com/solar-tracker-nextracker-raises-638-million-in-ipo/" target="_blank" rel="noopener">raised</a> $638 million in an initial public offering (IPO) by selling 26.6 million shares at $24 per share. The shares started trading on the National Global Select Market on February 9, 2023. NEXtracker has also granted the underwriters a 30-day window to buy up to an additional 3.99 million shares at the IPO prices.
Ionblox, a developer of high-energy density lithium-ion batteries, <a href="https://mercomcapital.com/high-density-lithium-ion-battery-developer-ionblox-raises-funding/" target="_blank" rel="noopener">announced</a> the second close of its Series B funding round, totaling $32 million. Lilium and Applied Ventures led the additional funding round, with participation from Temasek and Catalus Capital. The additional funds will be used to advance the company’s technology, develop high-power batteries for electric aviation, and prototype fast-charging batteries for electric vehicles.
Turno, a commercial electric vehicle (EV) distribution and financing platform, has <a href="https://mercomindia.com/ev-firm-turno-raises-13-8-million-in-a-funding/" target="_blank" rel="noopener">raised</a> $13.8 million in series A funding which would be used to build proprietary battery technology and scale across the country. The funding round was co-led by global venture capital firms B Capital and Quona Capital. The company plans to use the funding for a proprietary battery tech platform to address issues around end-of-life battery value amid concerns around EV batteries and e-waste globally.
VFlowTech, a manufacturer of vanadium-based redox flow batteries, has <a href="https://mercomcapital.com/flow-battery-manufacturer-vflowtech-raises-10-million/" target="_blank" rel="noopener">raised</a> $10 million in a Series A funding round. Japan-based venture capital firm Real Tech Holdings led the investment round. VFlowTech plans to use the new funds to set up a 200 MWh production line capacity, scale up the manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions and expand into new markets such as Türkiye, the U.S., Japan, and India.
Quino Energy, a startup focusing on organic flow battery technology, <a href="https://mercomcapital.com/flow-battery-startup-quino-energy-secures-1-25-million/" target="_blank" rel="noopener">raised </a>an additional $1.25 million in funding to supplement its Series Seed financing round. The round brings the total raised in the financing round to $4.55 million. The funding was provided by Energy Revolution Ventures and Doral Energy Tech Ventures, while TechEnergy Ventures increased the size of their earlier investment.
Solaria, a solar technology, services, and installation company, has <a href="https://www.businesswire.com/news/home/20230213005216/en/Complete-Solaria-Announces-Strategic-Investment-from-Kleiner-Perkins-Chairman-John-Doerr" target="_blank" rel="noopener">received</a> a $10 million strategic investment from Foris Ventures, an entity affiliated with John Doerr, Chairman of Kleiner Perkins. The investment is part of a $30 million bridge round in support of Complete Solaria’s previously announced business combination with Freedom Acquisition I Corp. This $10 million strategic investment is in addition to progress on the bridge funding, which included a $14.2 million investment from T.J. Rodgers, $3.5 million from Freedom’s sponsors, and $2 million from other investors.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.
Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-battery-maker-one-raises-300-million-in-series-b-funding/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.ionblox.com/" target="_blank" rel="noopener">Ionblox</a>, a developer of high-energy density lithium-ion batteries, announced the second close of its Series B funding round, totaling $32 million.
Lilium and Applied Ventures led the additional funding round, with participation from Temasek and Catalus Capital.
The company announced its initial Series B in October last year, <a href="https://www.businesswire.com/news/home/20221026005100/en/Ionblox-Raises-24-Million-Series-B-Investment-to-Support-the-Commercialization-of-Unique-High-Energy-Plus-High-Power-Battery-Cells" target="_blank" rel="noopener">raising $24 million</a>.
The additional funds will be used to advance the company&#8217;s technology, develop high-power batteries for electric aviation, and prototype fast-charging batteries for electric vehicles, Ionblox said in a press statement.
According to Ionblox CEO Sujeet Kumar, the new funding will help the company take a crucial step in its mission to scale its technology and set up cell manufacturing in key markets, including the U.S. &#8220;We are commercializing next-generation lithium-ion batteries with pre-lithiated silicon dominant anodes in order to transform the future of electric mobility,&#8221; added Sujeet Kumar.
Founded in Fremont, California, in 2017, Ionblox has been developing and commercializing high-energy density lithium-ion batteries for ground and aerial electric vehicles. The company has more than 40 issued patents; their batteries are designed with high-performance lithium-ion cells incorporating pre-lithiated silicon-dominant anodes.
“The Ionblox technology enables one of the highest performance cells for eVTOL aircraft existing today, and we’re proud to partner with Ionblox for our conforming aircraft. Test results to date are showing the technology will deliver not only superior energy and power density for the Lilium Jet at launch but also very good aging performance,” said Yves Yemsi, chief operating officer of Lilium.
Ionblox has received a development contract from USABC to develop low-cost, fast-charge electric vehicle batteries where its cell performance has been verified by Idaho National Lab and is also partnering with leading semiconductor equipment manufacturer Applied Materials.
According to Mercom’s Annual And Q4 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2022-funding-ma-report-for-storage-grid-efficiency" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency, Lithium-ion-based battery technology companies received the most VC funding in 2022.

High-Density Lithium-ion Battery Developer Ionblox Raises $32 Million in Funding

ionblox

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