The round was led by the VC Innovation Industries and joined by Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and Sake Bosch.
LionVolt spun off last year from TNO at Holst Centre, building on six years of R&D into battery design.
The funding will support the company’s development of a solid-state lithium-ion battery that is more efficient and sustainable than any lithium-ion battery available on the market today.
LionVolt’s design delivers higher energy density, faster charging, and a longer lifespan – leading to fewer batteries used (and disposed of) over time.
The LionVolt battery will power technology in several industries, including wearable devices, EVs and aviation.
“The battery industry requires a bold new approach to meet evolving needs in terms of cost, performance, safety and sustainability. We are pioneering that solution while building a strong ecosystem to support this innovation,” said LionVolt CEO Karl McGoldrick.
Earlier this year, LionVolt raised a €1.25 million pre-seed round from TNO, VC Innovation Industries, impact fund Goeie Grutten, Brabant Startup Fonds (BSF) and the Brabantse Ontwikkelingsmaatschappij (BOM).