betteries Raises €2.1M in Seed Funding

betteries, a Berlin, Germany-based profit for impact startup, closed its €2.1m seed funding.

The round was led by impact funds Factor[e] Ventures and Beyond Black with participation from Munich-based family office ISAR AG, an undisclosed French family office as well as existing shareholders.

The company intends to use the funds to refine its business model, serve more customers in developed economies and frontier markets, get its first two products – the betterPack and the betterGen – launched into the market in 2021 and kick-start the development of the betterStore.

Led by Dr. Rainer Hönig, CEO and founder, betteries is advancing upcycles 2nd life electric vehicle (EV) batteries to accelerate the transition to renewables.

betteries’ first two products will already launch in 2021. 48V mobile and modular betterPacks can be stacked to provide 3kWh to 12kWh energy and 2-5kW power, making them an eco-friendly source of power for DC appliances or small vehicles (think e-boats and e- rickshaws). Combined with an inverter – the betterGen – it becomes a replacement for millions of small-scale gas and diesel generators.

Another product is the larger containerized storage unit – the modular betterStore, which will provide economically reliable 15kWh – 150kWh energy storage for solar, wind or hydro- powered “mini-grids” to bring clean power to remote locations all over the world.