What is 24M Technologies?
24M Technologies is an innovator in the battery manufacturing space, distinguished by its development of SemiSolid lithium-ion technology. By fundamentally re-engineering the battery cell design and the associated production processes, the company effectively mitigates the high costs traditionally associated with energy storage chemistry. This technological advancement allows for improved performance metrics, positioning 24M Technologies as a critical partner for industries transitioning toward electrification and sustainable energy storage infrastructure.
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 ITOCHU, North Bridge Venture Partners & Growth Equity, and Kyocera
Series E (2021): $56.8M backed by ITOCHU, Kyocera, Fujifilm, Mirai Creation Fund II, and North Bridge Venture Partners
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
Nuovo Plus
Nuovo Plus is a strategic investment vehicle focused on the EV value chain, aiming to establish a dominant position as a leading battery manufacturer within the PTT Group ecosystem.
Fujifilm
A Japanese multinational technology conglomerate that leverages its deep expertise in materials science and advanced electronics to support high-growth industrial innovations.
CRV
A long-standing venture capital firm specializing in early-stage technology startups, providing strategic partnership and capital to companies from their inception through to IPO.
What's next for 24M Technologies?
With the recent influx of capital, 24M Technologies is well-positioned to scale its manufacturing capabilities and accelerate the commercial deployment of its SemiSolid technology. The company's strategic roadmap likely involves deepening its integration within the global EV value chain and expanding its production footprint to meet the surging demand for reliable, scalable energy storage. As the firm moves beyond its development phase, the focus will shift toward operational efficiency and the mass-market adoption of its cost-optimized battery solutions, further cementing its role as a leader in the energy transition.
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