$10m Series A fundraise for state-of-the-art battery company Nyobolt
Years of research leads to the commercialisation of pioneering battery technology which delivers high power and ultra-fast charging
Cambridge, 25th February: Nyobolt, a cutting-edge battery company, defining a new category of ultra-high power technology, has secured $10 million in Series A funding, led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors. The funding will enable Nyobolt to expand globally, building new facilities, and growing the engineering and operational teams, which work with customers to implement and integrate the unique technology into commercial applications to solve their battery challenges.
Nyobolt (formerly CB2Tech) developed out of years of research at the University of Cambridge led by world-renowned battery materials expert, Professor Clare Grey, and Dr. Sai Shivareddy. The company is rapidly expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.
Nyobolt has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy. The world-leading charge and discharge rate capability of Nyobolt batteries, extensively recorded in academic journals, presents a huge opportunity to supercharge the electric revolution. The batteries also address other major challenges facing much existing technology, as they operate within a wide temperature range and are highly durable.
Speaking on the fundraise, Dr. Sai Shivareddy, Nyobolt CEO commented that
“Nyobolt batteries remove the limitations presented by conventional lithium-ion batteries. They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery technology and we are pleased to play our part in accelerating a greener, more efficient future, powered by world-class batteries.”
As Max Bautin, Managing Partner IQ Capital, stated:
“Nyobolt is a ‘new gen’ deeptech start-up founded by a highly experienced team with multiple prior successes; it is based on highly differentiated, patented and highly scalable technology. We are very impressed by the team, products and commercial traction to-date and we are convinced that Nyobolt will have a revolutionary impact on Li-ion battery applications, and create new previously impossible uses in markets worth hundreds of billions of dollars a year.”
Cambridge Enterprise Investment Director Dr. Elaine Loukes said
“When Clare and Sai first disclosed their discovery to Cambridge Enterprise nearly five years ago, we recognised that this would have the potential to be a paradigm shift in ultrafast battery charging. The importance and significance of this technology to the post-carbon world cannot be overstated. We have worked with the founders from patent application through to seed funding and now A-round funding and we are extremely excited to be part of the ongoing journey of this incredible company.”
Notes to editor
Nyobolt is a cutting-edge battery company which is defining a new category of ultra-high-power technology. Nyobolt batteries represent a paradigm shift – delivering super high discharge power and ultrafast charge. The company grew out of years of research by world-renowned chemists and engineers at Cambridge University and now has teams in the UK, the US and Asia.
For more information, please visit www.nyobolt.com
IQ Capital is a deeptech venture capital firm that invests in thought-leading founders addressing some of the largest problems in the world – across sectors including machine learning & AI, human-machine interfaces, advanced engineering/robotics & materials, health tech & life sciences, fintech and cybersecurity.
IQ Capital’s 45+ portfolio companies are visionaries and dominate their respective markets on a global scale. Our initial investments at Seed and Series A range from £0.25m to £5m, with capacity for follow-on investment up to £30m through our Growth Fund.
Since its launch in 2007, IQ Capital has achieved over 20 exits, to companies including Apple, Facebook, Google, Huawei, Oracle and Becton Dickinson, and several IPOs. IQ Capital has led over 30 investments over the last three years in outstanding companies including Thought Machine, Privitar, CybSafe, Concirrus, Fluidic and Paragraf.
For more information, please visit www.iqcapital.vc
Part of the University of Cambridge, Cambridge Enterprise supports academics, researchers, staff and students in achieving knowledge transfer and research impact. We do this by helping innovators, experts and entrepreneurs use commercial avenues to develop their ideas and expertise for the benefit of society, the economy, themselves and the University.
Liaising with organisations both locally and globally, we offer expert advice and support in commercialisation and social enterprise, including help with academic consultancy services, the protection, development and licensing of ideas, new company and social enterprise creation, and seed funding.
For more information, please visit: www.enterprise.cam.ac.uk