Circu Li-ion, a European battery recycling start-up, has announced the successful closing of a €8.5 million seed funding round.

The financing includes €4.5 million in equity and is led by lead investor BonVenture. The round is backed by a group of experts in battery technology, artificial intelligence, industry, and the company’s management team. The investment is complemented by €4 million in funding from the European Innovation Council Accelerator (EICA) and partnerships with recyclers and OEMs, demonstrating their commitment to a greener future.

Circu Li-ion has a vision: through the support and trust of its new strategic partners, the concept of urban mining will be strengthened through an automated upcycling platform for end-of-life batteries. Agreements with leading OEMs in the fields of electric mobility, including electric cars, scooters, and bicycles, as well as with outstanding European recyclers, ensure valuable expertise for Circu Li-ion’s further development. These partnerships emphasize the common goal of establishing a closed-loop battery value chain in Europe – especially given the forecast that the electric car market will become a trillion-dollar market by 2030.

Source: Battery News