What is Factorial?
Factorial is a venture-backed entity committed to advancing sustainable energy through the creation of breakthrough solid-state batteries. These batteries are engineered to provide extended range per charge and enhanced safety features compared to conventional alternatives. The company has established joint development agreements with major automotive manufacturers including Mercedes-Benz, Stellantis, and Hyundai Motor Company, signaling strong industry validation for its technology. Factorial's progress has garnered attention from prominent media outlets such as The Boston Globe and The New York Times, highlighting its potential to disrupt the energy storage landscape.
How much funding has Factorial raised?
Factorial has raised a total of $240M across 2 funding rounds:
Series A
$40M
Series D
$200M
Series A (2021): $40M with participation from WAVE Equity Partners and Gatemore Capital Management
Series D (2022): $200M led by Mercedes-Benz AG and Stellantis
Key Investors in Factorial
Mercedes-Benz AG
Mercedes-Benz AG, a global leader in luxury automotive manufacturing, has invested in Factorial, indicating a strategic interest in advanced battery technology for future vehicle development.
Stellantis
Stellantis, a major multinational automotive corporation formed from the merger of PSA and Fiat Chrysler Automobiles, has backed Factorial, signaling a commitment to exploring innovative battery solutions for its diverse vehicle portfolio.
WAVE Equity Partners
WAVE Equity Partners, an ESG impact investor, has provided capital to Factorial, aligning with their focus on backing growth equity in sustainable and clean energy enterprises aimed at transforming industries.
What's next for Factorial?
With significant enterprise-level investment, Factorial is strategically positioned to accelerate the development and commercialization of its solid-state battery technology. The substantial capital infusion is expected to fuel advancements in manufacturing processes, expand research and development capabilities, and solidify strategic partnerships. This backing will likely enable Factorial to scale its operations, meet the growing demand for high-performance batteries in the automotive and other sectors, and further its mission to contribute to a more sustainable future through innovative energy solutions.
See full Factorial company page
