24M Technologies has raised a total of $500 million over multiple funding rounds, achieving unicorn status in September 2024. Headquartered in Cambridge, Massachusetts, United States, the company develops semi-solid lithium-ion batteries, addressing common issues in battery manufacturing and performance through innovative design and materials. Its technology aims to enhance energy density, reduce production costs, and improve scalability for applications in electric vehicles, grid storage, and industrial energy solutions.
Keep reading to explore 24M Technologies’ funding history, key investors, and what’s next for this energy storage innovator.
What Is 24M Technologies and What Does It Do?
Founded in 2010, 24M Technologies specialises in energy storage technology. The company develops semi-solid lithium-ion batteries designed to improve battery manufacturing efficiency, enhance performance, and reduce material costs.
Its innovative battery design enables higher energy density, faster production, and greater scalability, addressing key challenges in the electric vehicle and grid energy storage markets. 24M Technologies empowers industries to adopt more efficient, sustainable, and cost-effective energy storage solutions.
How Much Funding Has 24M Technologies Raised?
- Series H
- Amount Raised: $87M
- Date: September 5, 2024
- Lead Investors: Asahi Kasei, DNP Group, Lucas TVS, and 2 more
- Motivation: Scale semi-solid battery production and achieve unicorn valuation.
Total Funding Raised: $500M
Latest Funding Date: September 5, 2024
Key Investors
- Volkswagen Group
- Details: Global automotive manufacturer investing in energy and mobility innovations.
- Investment Focus Areas: Battery technology, EV infrastructure, and sustainable energy.
- Notable Investments: EV startups and advanced battery developers.
- Shumway Capital
- Details: Venture firm focused on early and growth-stage technology companies.
- Investment Focus Areas: Clean energy, materials innovation, and scalable tech solutions.
- Notable Investments: Energy storage and industrial technology startups.
Where Is 24M Technologies’ Headquarters?
24M Technologies is headquartered in Cambridge, Massachusetts, United States, providing access to top talent in battery science, materials engineering, and energy storage technology.
What’s Next for 24M Technologies?
Following its unicorn milestone, 24M Technologies plans to expand production of semi-solid lithium-ion batteries, enhance energy density and performance, and accelerate adoption across electric vehicles, grid storage, and industrial applications. The company aims to lead innovation in scalable, cost-effective, and sustainable battery technology worldwide.
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