Founded in 2017 in Uppsala, Sweden, Altris is building next-generation sodium-ion batteries based on its own iron-based cathode chemistry, which the team positions as a safer, cheaper and more resource-secure alternative to conventional lithium-ion cells. The company has progressed from lab research to pilot-scale production in Uppsala and has entered industrial collaborations, including a development program with Northvolt. Recent strategy focuses on co-locating cathode manufacturing near raw-material flows; consequently, Altris plans to erect its next plant adjacent to partner Draslovka’s facilities in the Czech Republic, mitigating logistics costs and hazardous-goods handling. Capital needs have been met in stages: SEK 150 m in autumn 2024 from Clarios and Maersk Growth, a Volvo-led entry in 2025, SEK 81 m top-up in November 2025 from existing backers, and SEK 210 m from Draslovka in January this year. The firm has now secured both a grant and an equity commitment from the EU’s EIC Accelerator to industrialise its cathode at scale. Management is entering a new fundraising phase to match the EU equity tranche with additional financial investors and accelerate factory build-out.

Total raised

$39M

Funding rounds

6

Latest round

Grant

Latest activity

Feb 2026