KOREALFP, a manufacturer of lithium iron phosphate battery cells and modules for e-mobility, energy storage, and industrial power applications, has raised 4.35 billion KRW (~$3 million) in funding from Korinvest Group, a U.S. investment firm focused on backing Korean startups and venture companies.
This follows an investment of around $200,000 that the company received in October last year.
The company secured this investment in connection with CES 2026, where it showcased its battery safety technologies. Previously, the company received the Innovation Award at CES for a battery management system that incorporates fire suppression technology.
KoreaLFP manufactures LFP battery packs domestically using its proprietary design and production processes, supplying high-performance battery packs for industrial and consumer applications.
The funding is intended to support the expansion of local production systems and supply chains in the U.S.
In December, the company signed an MOU with the U.S.-based energy solutions firm Synergy to promote the supply of 30 kW ESS systems, advance a U.S.-focused business strategy, and deploy safer storage solutions that address thermal runaway risks.
According to Mercom’s 9M and Q3 2025 Funding and M&A for Energy Storage report, VC funding in the sector totaled $2.8 billion across 56 deals, a 4% YoY increase from $2.7 billion across 61 deals in 9M 2024. Materials and Components providers received the most VC funding ($1.1 billion) in 9M 2025.
In July, Lyten, a lithium-sulfur battery manufacturer, secured over $200 million in additional equity investment, bringing the total investment in Lyten to date to more than $625 million. The company’s existing investors primarily provided the additional funding. The funding will be used to support the company’s ongoing acquisition strategy and expansion plans in both the U.S. and Europe.
