Lithium-ion battery repair and maintenance startup NOWOS today announced it has raised a €6 million equity funding round.
The round was led by Impact Venture Fund Shift4Good, with participation from Dutch investors Fair Capital Impact Fund and Goeie Grutten Impact Fund. An additional €3 million in debt financing is currently being raised.
Since the Dutch company’s launch in 2019, NOWOS initially focused on micro-mobility: repairing batteries for e-bikes, e-mopeds, and kick-scooters for customers across Europe such as vehicle manufacturers and fleet operators including Swapfiets, Dott, Felyx, Qwic from the Netherlands, Voi from Sweden, Dance in Germany and France, Fifteen in France, plus naming NIU, Phylion, TWS, Segway-Ninebot among Chinese manufacturers repairing with NOWOS, showing dedication to sustainability and collaboration.
In 2024 alone, the company repaired 310,000 kilograms of 98 different battery models, the equivalent of 90,000 batteries.
CEO and serial entrepreneur Prins Doornekamp explains:
“This funding not only recognises the work we’ve done so far but also gives us the resources to accelerate our mission: making battery repair and reuse the standard across Europe.
We especially want to acknowledge our customers—those who trust and work with us in this complex and rapidly evolving space since the beginning.”
Newly appointed Chief Impact Officer Alix Armour points out:
“Today, more than 80 per cent of the batteries we receive can be repaired, saving both energy and materials that would otherwise be wasted through premature recycling. In a rapidly growing sector like micro-mobility, repair isn’t just sustainable, it’s economically strategic."
With the EU pushing for 70 percent material recovery by 2030, companies can no longer afford to treat batteries as disposable.
“Repair is now on average 55 per cent cheaper than replacement due to rising raw material costs, storage, regulations, and growing pressure to extend product life cycles.”
NOWOS now has hubs in the Netherlands, France and a partner in the UK.
The round’s lead investor, Shift4Good, is a global impact venture capital fund dedicated to sustainable transportation.
CEO Prins Doornekamp shared:
“We’re gaining a mission-aligned investor with deep knowledge of the transportation and circular economy sectors. Their strategic support, network, and shared vision give us a powerful platform to scale, innovate, and lead in a rapidly evolving industry. This is the kind of partnership that creates long-term impact.”
According to Shift4Good’s founder Yann Marteil:“The circular economy is becoming a standalone sector, especially within transportation, which is a major consumer of raw materials and manufactured goods.
We believe that the B2B model NOWOS is building, with large clients at its core, is the right approach to structure the market. At the same time, their localised repair facilities are especially compelling. It allows them to adapt to local needs and client-specific constraints, which is key in this space.”
Shift4Good is joined by Dutch impact investors the Fair Capital Impact Fund and Goeie Grutten.
Marije Schasfoort, impact investor at Fair Capital Impact Fund shared:
“NOWOS is a leader in sustainable battery solutions, through extending battery lifespans and reducing waste.
They emphasise the importance of repair for the transition towards a circular economy. Their pioneering position and ability to scale across Europe make them a strong fit for our impact-driven investment approach.”
With the new funding the company plans to open new repair hubs in Poland in 2025 and in Germany in 2026 to support growing demand across Europe. Additional investments will go towards further developing a Battery Passport system and scaling repair protocols to serve more battery types and use cases.
The company will continue to expand into additional sectors such as material handling equipment (e.g., forklifts and AGVs), energy storage systems (ESS), power tools and garden electronics, automated drones, robotics, and medical devices.
Lead image: NOWOS. Photo: uncredited.
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