What is Factorial?
Factorial is at the forefront of developing advanced solid-state battery technology, aiming to revolutionize the electric vehicle and energy storage markets. The company's core mission revolves around creating batteries that offer enhanced safety and extended range per charge, addressing key limitations of current lithium-ion technologies. Factorial has established strategic joint development agreements with prominent automotive manufacturers including Mercedes-Benz, Stellantis, and Hyundai Motor Company, signaling strong industry validation for its technological advancements. The company's commitment to a sustainable future is evident in its pursuit of cleaner energy solutions.
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 Gatemore Capital Management and WAVE Equity Partners
Series D (2022): $200M led by Mercedes-Benz AG and Stellantis
Key Investors in Factorial
Gatemore Capital Management
Gatemore Capital Management is a principal investor specializing in special situations and growth opportunities across various sectors, including consumer, industrial, sports, media, and technology. The firm employs a turnaround activist strategy, focusing on concentrated positions in small- and mid-cap companies, and emphasizes deep engagement with portfolio companies to create value.
WAVE Equity Partners
WAVE Equity Partners focuses on ESG impact investing by backing growth equity in sustainable and clean energy enterprises. They emphasize the transformation of incumbent industries to adopt innovative technologies and efficient methods while addressing global environmental challenges.
Mercedes-Benz AG
Founded in 1926 and headquartered in Stuttgart, Germany, Mercedes-Benz AG is one of the world's largest manufacturers of luxury passenger cars and luxury utility vehicles.
What's next for Factorial?
With the recent influx of major enterprise-level funding, Factorial is poised for significant expansion and acceleration of its product development roadmap. The capital is expected to fuel advancements in manufacturing capabilities, further research and development, and the scaling of operations to meet growing market demand. Strategic partnerships with established automotive giants will likely play a crucial role in the commercialization and widespread adoption of Factorial's solid-state battery technology, positioning the company as a key player in the future of sustainable mobility and energy solutions.
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