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24M Technologies closed an $87 million Series H Preferred Stock financing round. The round was led by Nuovo+, a strategic partner and licensee of 24M. Participating investors in this round included Kyocera Corporation, ASAHI Kasei, Dai Nippon Printing Company (DNP), Lucas TVS, and Mitsui O.S.K. Lines. This funding brought 24M's total funding to over $500 million and valued the company at $1.3 billion post-money.
24M delivers battery innovations, reinventing today's battery technologies and manufacturing methods. Its chemistry-agnostic battery design, process, and platform aim to reduce manufacturing costs while significantly improving safety, range, cost, performance, and recyclability. The company intends to use the funds to accelerate the commercialization and mass production of its offerings, including the acquisition and opening of a new R&D and pilot manufacturing plant in Rayong, Thailand.
Funding Round: Series H
Amount Raised: $87M
Valuation: $1000M
Lead Investor: Nuovo+
Other Funds that Invested: Unknown
Company Industry: Semiconductors
Company Headquarters: Cambridge, Massachusetts, United States
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