Dealflow | February 9, 2023

Liminal raises $17.5 million to help EV battery makers monitor and improve production

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, February 9 – Global demand for lithium-ion batteries for electric vehicles and solar storage is forecast to grow more than 30% per year through 2030. A raft of battery makers are securing private capital, going public and ramping up production (in the U.S., more than $128 billion is going into electric vehicle and battery plants, as well as battery recycling projects).

Liminal’s inspection tools help battery manufacturers check quality during production. The Emeryville, Calif.-based company uses ultrasound and machine learning to ensure battery factories meet safety and performance standards.

“Most battery innovation to date has focused on material science,” said Mira Inbar of ArcTern Ventures, which led Liminal’s $17.5 million Series A extension round. “The industry needs a larger focus on process and manufacturing innovations to ensure both affordability and safety.”

The company’s latest financing round was also backed by Swedish battery producer Northvolt, which has raised billions of dollars for its battery “gigafactory.” Ecosystem Integrity Fund, Impact Science Ventures, Helios Climate Ventures and others also participated.