What is StoreDot?
StoreDot is at the forefront of battery innovation, developing proprietary organic and inorganic compounds that enable electric vehicles to charge in minutes, comparable to refueling a conventional car. Their technology aims to overcome the critical barriers to mainstream EV adoption. Beyond current XFC Li-ion batteries, StoreDot is also advancing future Solid State technologies for extreme energy density (XED), promising enhanced driver experiences and greater EV utility. The company's strategic backing from major industry players highlights the transformative potential of its technology in the rapidly evolving automotive sector.
How much funding has StoreDot raised?
StoreDot has raised a total of $236M across 7 funding rounds:
Series A
$6M
Private Equity
$10M
Series B
$42M
Private Equity
$18M
Private Equity
$60M
Series C
$20M
Series D
$80M
Series A (2013): $6M, investors not publicly disclosed
Private Equity (2014): $10M led by Millhouse Capital Investment Group Inc.
Series B (2014): $42M supported by Millhouse Capital and Singulariteam Ltd.
Private Equity (2015): $18M featuring Singulariteam and Samsung Ventures
Private Equity (2017): $60M backed by Samsung Ventures and Daimler
Series C (2018): $20M with participation from BP
Series D (2022): $80M led by Golden Energy Global Investment, BP Ventures, and VinFast
Key Investors in StoreDot
BP Ventures
BP Ventures is an active investor in the energy sector, likely focusing on innovative technologies that support the transition to cleaner energy and sustainable transportation solutions.
Samsung Ventures
Samsung Ventures is a venture capital arm of Samsung, typically investing in companies with cutting-edge technology, particularly in electronics, semiconductors, and emerging tech sectors relevant to consumer and industrial applications.
Daimler
Daimler AG (now Mercedes-Benz Group) is a major automotive manufacturer, indicating a strategic interest in advanced battery technology to enhance their electric vehicle offerings and future mobility solutions.
What's next for StoreDot?
With substantial enterprise-level backing and a recent strategic investment, StoreDot is poised for significant growth and market penetration. The company's focus on XFC and future Solid State battery technologies positions it as a key enabler of widespread EV adoption. Future developments will likely concentrate on scaling production, forging strategic partnerships for integration into vehicle platforms, and further refining battery performance to meet the increasing demands of consumers and automotive manufacturers. This sustained capital inflow signals confidence in StoreDot's ability to revolutionize EV charging infrastructure and user experience.
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