Nyobolt raises £23m months after warning it could go bust

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Nyobolt raises £23m months after warning it could go bust - BusinessCloud

Quick Summary:

It also seems to have come at an incredibly critical time for the business, as it warned in early January that it could run out of funds in late Q1 2025 if it didn’t raise investment.

Despite this, the round saw many backers and was led by IQ Capital and Latitude, the sister fund of LocalGlobe, with strategic partners including Scania Invest and Takasago Industry.

The company closed 2024 with $9m in revenue and made history as the first company to successfully charge an electric car battery to 80% in under five minutes.