Rincell raises $1.2m seed round to accelerate the electrification of high impact carbon emission products
Rincell Corporation (Rincell), an advanced chemistry battery cell manufacturer, has raised $1.2 million seed round investment in an oversubscribed round led by U.S. based NextGen Battery Chem Ventures LLC, managed by Sandiip Bhammer.
Jignesh Parikh, Founder, Rincell: "We're thrilled to be partnering with Sandiip Bhammer – a veteran clean-tech investor and Founder of early-stage India climate fund Green Frontier Capital. Not only does Sandiip have a stellar reputation for supporting founders, but we've immediately felt the positive impact in just the short period of time we've started working together. With this investment, Rincell is poised to accelerate our mission of electrifying critical sectors with high capacity-performance batteries using secure supply chain."
Jagjit Nanda, Chief Scientific Officer, Rincell: "This partnership with NextGen Battery Chem Ventures will help bring our innovative silicon-graphite, LMFP and Sodium-ion battery chemistries to market faster."
Rincell has made rapid progress and in just one year since its founding, has already been shipping samples of its highest capacity-performance 18650 and 21700 Silicon-Graphite batteries to government and commercial customers, including Inventus Power, the largest independent battery pack manufacturer in North America.
Chris Turner, Chief Technology Officer, Inventus Power: "We are excited about the progress Rincell has made to commercialize its silicon-graphite anode 18650 and 21700 cells and will continue to work closely with Rincell to leverage its innovative cell technology when designing next generation advanced battery systems for medical, industrial/commercial, defense, and xEV applications."
The infusion of capital from NextGen Battery Chem Ventures will allow Rincell to get its 18650 and 21700 silicon-graphite batteries ready for commercial production in CY2024.
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