Battery maker Rincell nets $1.2m

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Battery maker Rincell nets $1.2m in seed round

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Battery maker Rincell nets $1.2m in seed round

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Battery maker Rincell Corporation has raised US$1.2 million in an oversubscribed seed funding round led by US-based NextGen Battery Chem Ventures.

The investment will help Rincell commercialize its silicon-graphite batteries, set for production in 2024.

Founded in 2023, the firm said it has already distributed battery samples to clients including Inventus Power, a US-based independent battery pack manufacturer.

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