Cylib raises money
Nils Wischmeyer
| 14.10.2022
The RWTH Aachen University spin-off was able to raise a total of 3.6 million euros.
Start-up Cylib has completed a seed funding round, raising a total of €3.6 million. First reported on Electrive.net reported. Among others, Vsquared Ventures, Speedinvest, Lawrence Leuschner and Lieferando founder Kai Hansen invested. The money will now be used to build a pilot factory.
The start-up plans to spin off from RWTH Aachen University in the course of the year. It focuses on recycling lithium-ion batteries. Among other things, the young company wants to make this more environmentally friendly. Cylib was founded by Lilian Schwich, Paul Sabarny and Gideon Schwich. Lilian Schwich and Sabarny both worked at IME, a chair at RWTH Aachen University, where they built up the battery recycling group.
The funding round is said to be just the beginning for the startup. "We are currently in talks with various companies about strategic partnerships. These include automotive OEMs, cell manufacturers and raw material suppliers," says co-founder Gideon Schwich at Electrive.
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