StoreDot Raises $18M in Financing

StoreDot_Logo-newStoreDot Ltd, a Tel Aviv, Israel-based specialty materials company, raised $18m in a new round of financing.

Investors included Norma Investments Limited, representing Roman Abramovich and Samsung Ventures, and Singulariteam.

Led by Dr. Doron Myersdorf, CEO, StoreDot is developing a new business unit that will allow future electric vehicles to fully charge in five minutes as opposed to the long hours it currently takes leveraging its proprietary FlashBattery technology.

The company, which has raised $66m in total funding to-date, intends to use the funds to advance its new business unit, support the development of a charging station, and an integrated FlashBattery management system, hire new peole and build additional labs.



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