Verkor develops lithium-ion battery systems designed for electric vehicles, energy storage, and mobility applications. The company focuses on high-performance, low-carbon battery production tailored for automotive manufacturers and industrial partners.
Its platform supports the transition to sustainable mobility by supplying next-generation batteries optimized for electric transportation and renewable energy systems.
What Is Verkor and What Does It Do?
Verkor, founded in 2020, is a Grenoble-based (France) battery technology company specializing in lithium-ion battery components and large-scale battery manufacturing. The company builds battery solutions designed for electric vehicles, mobility platforms, and energy storage systems.
Verkor operates with a growing engineering and industrial workforce and works closely with automotive OEMs and energy partners to localize battery production in Europe.
How Much Funding Has Verkor Raised?
1. Series B
- Amount Raised: $122M
- Lead Investors: Renault Group, EQT, Government of France, EIT InnoEnergy
- Motivation: To advance battery R&D and prepare for industrial-scale manufacturing.
2. Series B (Additional)
- Amount Raised: $61.2M
- Motivation: To strengthen operational capacity and supplier partnerships.
3. Series C
- Amount Raised: $248M
- Lead Investors: Siemens, European Investment Bank, Societe Generale
- Motivation: To accelerate gigafactory development and production readiness.
4. Grant (Prize Money)
- Amount Raised: $65.8M
- Lead Investors: European Union
- Motivation: To support sustainable battery manufacturing initiatives.
5. Series C
- Amount Raised: $913M
- Lead Investors: Macquarie Group, Renault Group, EQT, Bpifrance
- Motivation: To expand manufacturing capacity and support EV demand.
6. Conventional Debt
- Amount Raised: $644M
- Lead Investors: European Investment Bank
- Motivation: To finance industrial infrastructure and factory construction.
7. Conventional Debt
- Amount Raised: $1.41B
- Lead Investors: Standard Chartered, Santander, ING, Societe Generale
- Motivation: To fund large-scale gigafactory deployment across Europe.
Total Funding Raised: $3.46 Billion
Current Valuation: $2.1 Billion (as of September 2023)
Latest Funding Date: October, 2024
Key Investors
1. Renault Group
- Details: Global automotive manufacturer focused on electric and sustainable mobility.
- Investment Focus Areas: Electric vehicles, mobility platforms, energy transition.
- Notable Investments: Verkor, Ampere, Nissan EV initiatives, Mobilize.
2. Macquarie Group
- Details: Global financial services firm with strong infrastructure investment capabilities.
- Investment Focus Areas: Infrastructure, energy transition, industrial assets.
- Notable Investments: Verkor, renewable energy platforms, EV infrastructure projects.
3. Standard Chartered
- Details: International banking group supporting large-scale industrial financing.
- Investment Focus Areas: Infrastructure finance, sustainable energy, manufacturing.
- Notable Investments: Verkor, renewable energy projects, green finance initiatives.
4. Societe Generale
- Details: European banking group with strong presence in industrial and ESG financing.
- Investment Focus Areas: Infrastructure, automotive, sustainability-linked financing.
- Notable Investments: Verkor, energy transition projects, EV manufacturing platforms.
5. ING
- Details: Global financial institution focused on sustainable finance.
- Investment Focus Areas: Energy transition, clean technology, industrial innovation.
- Notable Investments: Verkor, renewable infrastructure, battery supply chains.
Where Is Verkor’s Headquarters?
Verkor is headquartered in Grenoble, France, a major European hub for deep tech, energy research, and advanced industrial innovation.
What’s Next for Verkor?
Verkor is focused on scaling gigafactory operations, strengthening automotive partnerships, and becoming a cornerstone of Europe’s electric vehicle battery supply chain. With strong public and private backing, the company is positioned to play a critical role in the global EV transition.
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