ACT-ion Battery Technologies, a producer of cathode active materials (CAM) for lithium-ion batteries, raised a $4 million extension to its Pre-Series A funding round.
The extension increases the company’s total funding to $11.5 million, building on the $7.5 million raised earlier this year in the initial phase of the round led by BASF Venture Capital. The earlier funding was earmarked to advance its CAM production technology, with the objective of setting up an operational pilot facility by 2025.
The extension round was led by South Korean financial institutions Kyobo Life Insurance Group and KB Investment.
The proceeds will be used to complete the build-out and commissioning of its pilot production facility in Carrollton, Texas, and to secure commercial validation and offtake agreements with key industry partners in the electric vehicle and energy storage sectors.
According to the release, Korea accounts for over 25% of global battery cell production and hosts the world’s most sophisticated battery supply chains. This investment is expected to provide a direct pathway for ACT-ion to engage with Korean battery companies that collectively supply Tesla, GM, Ford, and other major OEMs.
“ACT-ion’s innovative approach to cathode manufacturing directly addresses the cost and environmental bottlenecks that challenge the industry today,” said Ryan Kim, Head of Global Investment at KB Investment.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage, VC funding for Energy Storage companies in 1H 2025 came to $1.7 billion in 36 deals, a 29% decrease YoY compared to $2.4 billion in 48 deals in 1H 2024.
In July, Ionic Mineral Technologies, a producer of advanced battery materials, announced the closing of a $29 million Series B funding round. The oversubscribed funding round, which exceeded its initial $25 million target, saw participation from undisclosed investors.
