- Liminal announced it raised $17.5 million in Series A2 funding. These are the details.
Liminal – a battery manufacturing intelligence company – announced a $17.5 million Series A2 funding round, led by climate tech fund ArcTern Ventures, joined by new investors Northvolt and Ecosystem Integrity Fund, and with continued support from Chrysalix Venture Capital, Good Growth Capital, University of Tokyo Edge Capital Partners, Volta Energy Technologies, Impact Science Ventures, and Helios Climate Ventures.
What the funding will be used for: Liminal will use this funding to scale its EchoStat inspection systems into factory-integrated solutions for global battery manufacturers, tapping into the rapidly growing demand for safe, reliable, and more affordable EV batteries.
ArcTern Partner and U.S. Department of Energy C3E award winner Mira Inbar is going to join Liminal’s Board of Directors. And Inbar spent about two decades building clean energy businesses before joining ArcTern. She has direct experience scaling a battery manufacturing company while at Dow Kokam, which is Dow Chemical’s joint venture for battery cell manufacturing.
Last year, Liminal launched its automated EchoStat platform — the only in-line, high-speed ultrasound inspection solution engineered specifically for EV-grade batteries. And the platform provides battery cell manufacturers and auto OEMs with previously unavailable insights allowing them to commercialize and reduce time to market.
The funding is also going to be used for supporting product industrialization and manufacturing, significant team growth, and international expansion. And the company currently has open positions across its commercial, engineering, operations, and administrative teams.
KEY QUOTES:
“Our mission is to catalyze a clean energy future in which EVs are the default option for everyone. Our products help battery manufacturers hit their aggressive production volume and cost targets, while ensuring their cells meet stringent EV safety and performance requirements. As we deploy our first factory-integrated solutions, we are excited to be joined by top tier climate investors and one of the most promising global battery manufacturers. This syndicate demonstrates significant and accelerating progress towards our goal of facilitating a clean energy future.”
— Liminal CEO and Co-Founder, Andrew Hsieh
“Most battery innovation to date has focused on material science. However, the industry needs a larger focus on process and manufacturing innovations to ensure both affordability and safety. Liminal is the only company that we see effectively bridging that critical gap.”
— Mira Inbar
“Northvolt’s intention is to accelerate the transition to a sustainable and electrified society. Ensuring high-quality cells through cost-competitive technology innovation is what this investment is about. Northvolt’s participation in this round will contribute to the scale-up and industrialization of Liminal’s solutions by combining the unique skill sets of the two companies. After successfully evaluating Liminal’s solutions at Northvolt Ett, our first high-volume manufacturing facility, we have expanded our relationship to become investors in order to accelerate the company’s future innovations.”
— Paolo Cerruti, co-founder and chief operating officer at Northvolt, a leading European supplier of sustainable, high-quality battery cells and systems
