Addionics, a leader in battery technology, announced a $39 million Series B funding round. GM Ventures and Deep Insight co-led the round, with participation from Scania and other investors. The funds will support operational growth, global expansion, and the development of Addionics’ 3D Current Collector solution. This investment will enhance manufacturing capabilities and advance the construction of a US-based giga-factory for production.
“Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege,” said Moshiel Biton, CEO and Co-Founder of Addionics. “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.”
Addionics’ 3D Current Collectors provide significant benefits in battery manufacturing and performance. They improve heat dissipation, allowing faster charging, increased power, and better stability. The drop-in solution allows manufacturers to integrate the technology seamlessly and cost-effectively.
Moshiel Biton also highlighted the urgency and demand for better-performing batteries. While, GM Ventures’ Managing Director, Anirvan Coomer, emphasized the promise of Addionics’ design in improving battery performance at lower costs. Deep Insight and Scania also expressed their support and excitement for the potential impact on battery technology and electric vehicles.
The new funding will enable commercial production by year-end, enhancing global battery performance. This financing will lay the groundwork for future manufacturing facilities and accelerate commercial distribution. Addionics will collaborate with top global automotive OEMs and battery manufacturers to meet growing demand.
