Startup Liminal, which makes battery inspection systems for the manufacturing process, raised $17.5 million in its series A2 funding round, the company said Monday.
The Emeryville, Calif., company will use the funding to scale production of its EchoStat inspection system, which it bills as an automated factory-integrated system for testing the performance of EV batteries.
“Our products help battery manufacturers hit their aggressive production volume and cost targets while ensuring their cells meet stringent EV safety and performance requirements,” said Liminal CEO and co-founder Andrew Hsieh.
ArcTern Ventures, a climate-focused venture capital fund based in Toronto, led the funding round. Liminal added two new investors in Northvolt, a Swedish battery developer and manufacturer, and the Ecosystem Integrity Fund.
Existing investors Chrysalix Venture Capital, Good Growth Capital, University of Tokyo Edge Capital Partners, Volta Energy Technologies, Impact Science Ventures and Helios Climate Ventures also contributed to this round.
“Northvolt is the most promising global battery manufacturer, and we’re excited to have them join our syndicate,” Hsieh told Automotive News. “Their support and expertise will accelerate our industrialization efforts, enabling us to quickly be able to serve the broader battery and EV manufacturing industry.”
Northvolt will work with Liminal to scale and industrialize its inspection systems, said Northvolt COO and co-founder Paolo Cerruti.
“After successfully evaluating Liminal’s solutions at Northvolt Ett, our first high-volume manufacturing facility, we have expanded our relationship to become investors to accelerate the company’s future innovations,” Cerruti said.
ArcTern Partner Mira Inbar will join Liminal’s board of directors. Inbar previously worked at Dow Kokam, Dow Chemical’s joint venture for battery cell manufacturing. She focused on increasing the company’s battery production.
“Most battery innovation to date has focused on material science,” Inbar said. “However, the industry needs a larger focus on process and manufacturing innovations to ensure both affordability and safety. Liminal is the only company that we see effectively bridging that critical gap.”