Nyobolt (formerly CB2Tech), a Cambridge, UK-based battery company defining a new category of ultra-high power technology, raised $10m in Series A funding.
The round was led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors.
The company intends to use the funds to expand globally, building new facilities, and growing the engineering and operational teams.
Developed out of years of research at the University of Cambridge led by world-renowned battery materials expert, Professor Clare Grey, and Dr. Sai Shivareddy, Nyobolt has developed a proprietary process using niobium-based anode materials to create batteries that deliver high power, fast charge and high energy.
The company is expanding its global technical and commercial presence, with teams in the UK, the US and Asia, with decades of experience at Tesla, Samsung, Dupont and Dyson.