Nyobolt, a cutting-edge battery company out of Cambridge University, has secured $10 million in Series A round led by IQ Capital with participation from Cambridge Enterprise and Silicon Valley investors.
Nyobolt, which grew out of years of research by chemists and engineers at Cambridge University, is led by Professor Clare Grey, a battery materials expert, and Dr. Sai Shivareddy. The team has developed a proprietary process using niobium-based anode materials to create batteries that deliver record high power, ultrafast charge and high energy — a “paradigm shift” that could power the shift to electric.
“We are pleased to play our part in accelerating a greener, more efficient future,” said Dr. Shivareddy, the company’s CEO.
He explained that Nyobolt’s materials don’t have the same limitations as conventional lithium-ion batteries. “They are perfect for applications that require high power and ultra-fast charge. The recorded performance of our batteries represents a paradigm shift in battery technology,” he added.
The company now has teams in the UK, the US and Asia, having recruited experts from Tesla, Samsung, Dupont and Dyson. The global teams work with customers to implement the unique battery technology into commercial applications.
With the fresh funding, Nyobolt will continue recruiting and also build new facilities.