BonVenture invests in Circu Li-ion to boost battery recycling
With the help of BitFlow's Tech Due Diligence, BonVenture has acquired the battery recycling company Circu Li-Ion and strengthened its position in the circular economy. By thoroughly analyzing Circu Li-Ion's technical performance and weaknesses, BitFlow was able to minimize the risk of the investment.
Buy-side
(Pre-) Seed
Buy-side
(Pre-) Seed
Summary
Circu Li-ion has successfully raised 4.5 million euros under lead investor BonVenture to advance battery recycling. The financing also includes 4 million euros in funding from the European Innovation Council Accelerator (EICA).
BitFlow supported BonVenture in the Due Diligence process and helped to answer questions about the scalability of the solution.
Circu Li-ion has an ambitious vision to recycle three billion batteries by 2035. This funding will enable the company to further develop its upcycling platform, expand its machine-as-a-service product with AI algorithms and build the world's largest data repository for battery recycling.
About BonVenture
BonVenture is a German-speaking investment company pioneer focussing on the social impact of companies. Since 2003, the company has offered investors the opportunity to support social enterprises with social venture capital through its funds. As a partner of social entrepreneurs, BonVenture strengthens them by providing capital, expertise and networks and supports them during the development and growth of their organisations. In this way, BonVenture promotes the development and dissemination of social innovations. Since 2014, BonVenture has been the first German fund manager to be officially EuSEF-registered (EU regulation for social enterprises).
About Circu Li-ion
Circu Li-ion is a European battery upcycling company whose mission is to save the planet by increasing the value of every single battery. In 2021, Circu Li-ion has embarked on a journey to revolutionize the battery value chain. Automating the disassembly of batteries and the diagnosis of cells is made scalable, leading to more economical and ecological battery recycling. Circu Li-ion's technology is aimed at leading companies in the fields of electric vehicles, micromobility, power tools, energy storage systems and recycling. The Machine-as-a-Service solution enables these companies to upcycle their used batteries instead of recycling them, which is both cost-saving and environmentally friendly.
About BitFlow GmbH
We are a team of passionate tech specialists and business experts. Our customers value our work for being thorough, precise, and because we offer a deep-dive analysis of a company’s digital assets.
With our modular Tech Due Diligence report, we offer private equity and venture capital investors a flexible way to truly understand their target and pinpoint potential risks and opportunities for improvement and scalability, even before the investment is complete.Wir sind Vorreiter im Bereich der digitalen
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