Luxemburg-based Circu Li-ion, a battery upcycling startup that aims to save the planet by boosting the value of each battery, has secured €8.5M in a seed round of funding.
The startup received €4.5M in equity funding led by BonVenture, with support from an undisclosed group of battery, AI, and industry experts, and Circu Li-ion’s management team.
Circu Li-ion also received €4M in grants from the European Innovation Council Accelerator and collaborations with recyclers and OEMs.
Automated battery & cell upcycling
Circu Li-ion is a battery upcycling company with a mission to enhance the value of batteries and contribute to ecological sustainability.
The startup aims to revolutionise the battery value chain by automating disassembly and cell diagnostics, promoting economical and eco-friendly battery recycling.
Circu Li-ion’s technology is provided to various sectors like electric vehicles, micro-mobility, power tools, and energy storage systems. Through its Machine-as-a-Service solution, it offers a second life to used batteries, promoting upcycling over traditional recycling methods.
The company has secured contracts with major OEMs in the electronic vehicles (EV), micromobility, and power tools industries, as well as leading European recyclers. These partnerships bring crucial expertise to Circu Li-ion, aiding its development.
Together, they aim to establish a circular battery value chain in Europe, aligning with the growing EV market set to reach a trillion-dollar mark by 2030.
Capital utilisation
Circu Li-ion is dedicated to sustainability, aiming to upcycle 3 billion batteries by 2035.
With the raised money, the startup plans to expand its Machine-as-a-Service and Disassembly-as-a-Service products, reducing manual labor and environmental impact.
It’ll create the world’s largest battery recycling data repository, offering data-driven insights and revolutionising recycling practices. Collaborations with EV OEMs and recyclers will integrate circular approaches, and sustainable R&D partnerships will drive product development aligned with industry needs.
Antoine Welter, CEO & co-founder of Circu Li-ion says, “We’re happy to double down on our development speed, turning this fresh funding into smarter, data-focused solutions that make battery recycling economically and ecologically viable for everyone.”
“For this, the key is a great team – we will further invest in our team and double our size of currently 34 colleagues within the next twelve months,” adds Welter.
Circu Li-ion will also utilise AI for advanced battery sorting and explore innovative material-level recycling methods, minimising waste and enhancing material reuse in the recycling sector.
Additionally, the company plans to expand its production facility near Karlsruhe, Germany to 2,000 m2 and grow its Berlin satellite office, alongside functional growth.
Xavier Kohll, CTO & co-founder of Circu Li-ion adds, “We are evolving our products with the agility and adaptability the swift-moving battery market demands. It’s more than creating relevancy – it’s about pioneering flexible solutions that carve out new possibilities for cleaner battery recycling.”
Brief about BonVenture
Founded in 2003, BonVenture offers social venture capital to companies with social or environmental purposes, promoting measurable social impact. It provides capital, expertise, and a wide network to impact entrepreneurs, aiding in organisation establishment and growth.
With around €100M in managed capital, the firm supported over 55 impact companies.
Speaking about the investment in Circu Li-ion, Nikolaj Klebert, Investment Manager at BonVenture says, “Since the first contact with the outstanding team, we have been enthusiastic about the highly dynamic environment of battery up- and recycling in which they have occupied the field very early and taken a dominant role.”
“Circu Li-Ion puts a stop to the current destruction of value in the form of a technically sophisticated and particularly innovative solution, thus unlocking previously inaccessible potential down to the level of the individual cell.”
“This is what makes a particularly high level of sustainability possible in the first place and makes an important contribution to the transformation of many industries,” adds Klebert.