Get featured

Fast-charging battery firm Nyobolt raises $30 million for expansion

Fast-charging battery firm Nyobolt raises million for expansion

Cambridge-based battery innovator Nyobolt has raised $30 million, with aims to expand into sectors like autonomous warehouse robots, heavy-duty vehicles, and mainstream electric vehicles.

(Reuters) — Cambridge-based battery innovator Nyobolt has raised $30 million in a funding round led by IQ Capital and Latitude, with participation from Scania Invest. The investment aims to expand Nyobolt’s fast-charging battery solutions into sectors like autonomous warehouse robots, heavy-duty vehicles, and mainstream electric vehicles.

Notably, Nyobolt’s technology achieved an 80% charge from 10% in under five minutes during a test, positioning the company as a key player in rapid EV charging advancements.

The latest fundraising was led by venture capital firms IQ Capital and Latitude and included Scania Invest, the venture capital arm of Scania, Volkswagen’s truckmaking business. The latest funding brings the total Nyobolt has raised to $100 million.

CEO Sai Shivareddy told Reuters that so far Nyobolt, based in Cambridge, England, has focused on energy storage systems, but in particular and autonomous robots that operate in e-commerce warehouses around the clock that require ultra-fast charging because they have almost no downtime.

“We’ve been focused on this market because there’s pretty much no competition,” Shivareddy said.

—

BQ

Stories for you

  • Brineworks secures m for DAC expansion

    Brineworks secures $8m for DAC expansion

    Brineworks secures €6.8 million funding to advance low-cost DAC technology. The Amsterdam-based startup aims to develop affordable carbon capture and clean fuel production technologies, targeting sub-$100/ton CO2 capture with its innovative electrolyzer system. The company plans to achieve commercial readiness by 2026….

  • Brineworks secures m for DAC expansion

    DHL and Hapag-Lloyd commit to green shipping

    DHL and Hapag-Lloyd partner for sustainable marine fuel use. The new agreement aims to reduce Scope 3 emissions through sustainable marine fuels in Hapag-Lloyd’s fleet, using a book and claim mechanism that decouples decarbonisation from physical transportation….

  • Survey: one in seven women face workplace harassment

    Survey: one in seven women face workplace harassment

    Over a quarter of women face workplace harassment in the UK. WalkSafe’s data highlights persistent harassment issues, with 27% of women and 16% of men affected. Many employees believe companies should enhance safety measures, valuing anonymous reporting systems.