Finnish Helen Ventures joins €5M round for Voltfang, climate tech startup
10 May, 2023, 16:24
The Aachen-based Voltfang has raised €5 million in a seed round to solve the battery recycling problem with its energy storage systems. The round was led by PropTech1 Ventures, with additional backing from Helen Ventures, Aurum Impact, Eviny, and AENU.
- Voltfang was founded in 2021 as a spin-off from RWTH Aachen, and provides a solution to both the battery recycling problem and the energy solution, by creating high-quality energy storage systems from used electric vehicle batteries. The startup uses AI-based software to evaluate battery longevity, enabling the reuse of EV batteries and mitigating waste.
- The Berlin-based PropTech1 Ventures, an independent early-stage venture capital fund for proptech and construction tech in Europe, led the current round.
- Helsinki-based Helen Ventures that has already invested €50 million in European startups in the energy, e-mobility, and digital solutions sectors joined the round. In 2022, it also participated in €1.7 million round for Finnish indoor climate software Freesi.
- The new funding will be spent to deliver more than 40 MWh of storage capacity by the end of 2024.