On Monday Israeli startup 3DBattery, which develops technology that enables higher performance of lithium ion batteries, announced a $3.5 million Seed funding round. The investment was led by Eliad Holdings, while Terra Ventures, CLP OSEG Energy Israeli innovation center, sandal maker Source-Israel, and Angel investor Sergio Fogel.
Charging the car battery in 15 minutes
3DBattery developed silicon based anode technology that enables more energy capacity while also cutting charging times. The company claims that it has significantly reduced battery charging time, enabling longer driving distances, rapid charging, as well as a similar driving experience to combustion engine vehicles.
The company further notes that in the future it will be able to produce batteries without electrolyte fluid, which will provide a significant safety improvement, while drastically reducing combustion potential. 3DBaterry’s Next-Gen lithium ion batteries will provide high-energy capacity and 15-minute recharging times.
CEO and founder Erez Schreiber explained regarding the funding round: “Energy hoarding and lithium battery technology are a key factor in the transition to a ‘greener’ world, which is noticed by the increasing demand of high-performance batteries. These challenges bring business opportunities looking for high-performance battery solutions.” Schreiber further adds that “the company’s products are targeted to integrate into the lithium-based solution market, which is expected to hit $100 billion in sales by 2030.
3DBattery was founded in 2017 by Erez Schreiber, who is joined by 12 other employees working out of the company’s headquarters located in one of Israel’s top tech hubs. 3DBattery envisions opening its first production line in Israel in the upcoming months, putting that newly acquired Seed cash to use, while also investing strong in the R&D department.