Customcells raises 60 million euros

The start-up, founded in 2012, develops lithium-ion battery cells. The company intends to use the capital to improve the product and expand.

Itzeho-based start-up Customcells successfully closed its Series A financing round. According to its own statements, the company raised 60 million euros. Lead investors are climate tech venture capitalist World Fund and Hamburg-based family office Abacon Capital. Existing investor Vsquared Ventures also invested again and increased its stake in Customcells. Porsche and 468 Capital remain invested in the company. Customcells founders Leopold König and Torge Thönnessen remain the largest shareholders.

With the fresh capital, Customcells is now aiming for a leading role in the global premium battery market. The focus is to be on the electrification of aviation. Significantly longer battery life than comparable battery cells and certifications from the European Aviation Safety Agency and the U.S. Federal Aviation Administration should give the company the advantage of being first to market.

The company was spun off from a Fraunhofer-Gesellschaft and manufactures lithium-ion battery cells. It offers services along the entire value chain, from development to recycling.