European battery recycling startup, Circu Li-ion, a leading, announced the successful closing of a €8.5 million Seed financing round.
Circu Li-ion is a European battery upcycling company transforming the battery value chain by automating and scaling the disassembly of batteries and the diagnostic of cells – for a more economical and ecological battery recycling.
Its usecases include electric vehicles, micro-mobility, power tools, energy storage systems, and recycling. A Machine-as-a-Service solution helps give used batteries a second life through upcycling instead of recycling – saving money and the planet.
The company aims to upcycle three billion batteries by 2035.
The recent funding includes €4.5 million in equity, led by BonVenture and additional backing from an undisclosed group of battery, AI, and industry experts, and a significant participation of the company’s management team.
The investment is complemented by €4 million in grants from the EICA (European Innovation Council Accelerator) and collaborations with recyclers and OEMs.