Participated · Series A · Feb 2023

Liminal combines ultrasound technology with machine learning to deliver advanced inspection insights for EV battery manufacturers. The company launched its automated EchoStat platform in 2022, described as an in-line, high-speed ultrasound inspection solution engineered specifically for EV-grade batteries. Liminal plans to scale EchoStat into factory-integrated solutions and commercialize them to help manufacturers meet production volume, cost, safety, and performance targets. The company says the funding will support product industrialization and manufacturing, significant team growth, and international expansion, and it currently has open positions across commercial, engineering, operations, and administrative teams. Liminal positions its solutions as providing previously unavailable insights to reduce time to market and lower lifetime battery costs, advancing its mission to catalyze a clean energy future and make EVs more accessible. Founded in 2015 by technologists from Princeton University and based in Emeryville, Calif., Liminal is deploying its first factory-integrated solutions and expanding commercial relationships. Liminal provides battery manufacturing intelligence by combining ultrasound technology with machine learning to deliver advanced insights for manufacturers. Its solutions aim to improve battery performance and safety while reducing lifetime costs. The company targets increased scalability for e-mobility battery manufacturers and positions its technology to help make EVs more accessible. Liminal was founded in 2015 and is based in Emeryville, CA; it was formerly known as Feasible. It partners with Lawrence Berkeley National Laboratory's Cyclotron Road division and was founded by technologists from Princeton and fellows from the Activate fellowship. The company recently closed a financing round that supports its growth and product deployment plans.

Participated · Series A · Mar 2022

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.