What is 24M Technologies?
24M Technologies is at the forefront of addressing the global demand for affordable energy storage. The company's proprietary SemiSolid™ lithium-ion technology represents a paradigm shift in battery cell design and manufacturing. By fundamentally re-imagining the battery cell and its production methods, 24M Technologies tackles the long-standing challenge of high costs associated with lithium-ion batteries, while simultaneously enhancing performance. This innovative approach positions the company to significantly impact the energy storage market, enabling wider adoption of renewable energy and electric mobility.
How much funding has 24M Technologies raised?
24M Technologies has raised a total of $257.3M across 8 funding rounds:
Series A
$16M
Series B
$40M
Series C
$6.7M
Series D
$21.8M
Series E
$56.8M
Unspecified
$9M
Private Equity
$20M
Series H
$87M
Series A (2010): $16M with participation from CRV
Series B (2013): $40M, investors not publicly disclosed
Series C (2016): $6.7M supported by GPSC and Shumway Capital
Series D (2018): $21.8M featuring North Bridge Venture Partners & Growth Equity, Kyocera Group, and ITOCHU
Series E (2021): $56.8M backed by Mirai Creation Fund II, North Bridge Venture Partners, ITOCHU, Fujifilm, and Kyocera Group
Unspecified (2022): $9M with participation from U.S. Department of Energy
Private Equity (2022): $20M led by Fujifilm
Series H (2024): $87M supported by Nuovo Plus
Key Investors in 24M Technologies
North Bridge Venture Partners & Growth Equity
North Bridge Venture Partners & Growth Equity focuses on investing in innovative companies with disruptive potential, providing financing from seed to growth stages to help build market leaders.
Fujifilm
Fujifilm is a Japanese multinational technology company with diverse business segments including Healthcare, Electronics, Business Innovation, and Imaging, leveraging deep expertise in materials science and optics.
Kyocera Group
Kyocera Group is a Japanese multinational manufacturer specializing in ceramics and electronics, known for its diverse range of advanced materials and technological solutions.
What's next for 24M Technologies?
The recent major strategic investment signals a pivotal growth phase for 24M Technologies. With substantial backing from key industry players, the company is poised to accelerate the scaling of its manufacturing capabilities and expand its market reach. This financing will likely fuel further research and development to optimize its SemiSolid™ technology and solidify its competitive advantage. The enterprise-level nature of the funding suggests a focus on commercialization and strategic partnerships to bring its cost-effective energy storage solutions to a global clientele, marking a significant step towards achieving widespread energy storage affordability.
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