Liminal, an EV battery inspection startup, announced a successful $17.5 million Series A2 funding round. The investment round was led by climate tech fund ArcTern Ventures with new investors Northvolt and Ecosystem Integrity Fund, along with continued support from Chrysalix Venture Capital, Good Growth Capital, University of Tokyo Edge Capital Partners, Volta Energy Technologies, Impact Science Ventures, and Helios Climate Ventures.
This funding will be used to scale Liminal’s EchoStat inspection systems into factory-integrated solutions for global battery manufacturers in response to the growing demand for safer, more reliable, and more affordable EV batteries.
The funding will also support product industrialization and manufacturing, significant team growth, and international expansion.
“Our mission is to catalyze a clean energy future in which EVs are the default option for everyone,” said Liminal CEO and Co-Founder, Andrew Hsieh. “Our products help battery manufacturers hit their aggressive production volume and cost targets, while ensuring their cells meet stringent EV safety and performance requirements.”
Liminal was founded in 2015 by technologists from Princeton University and is a battery manufacturing intelligence provider that combines ultrasound technology with machine learning to deliver advanced insights.
The company launched its automated EchoStat platform (in 2022), an in-line, high-speed ultrasound inspection solution specifically engineered for EV-grade batteries. The platform provides battery cell manufacturers and auto OEMs with previously unavailable insights, allowing them to commercialize and reduce time to market, according to the company.
ArcTern Partner and U.S. Department of Energy C3E award winner Mira Inbar will join Liminal’s Board of Directors.
“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.”
According to Mercom’s Annual And Q4 2022 Funding and M&A Report for Storage, Grid & Efficiency. VC funding for energy storage companies decreased by 34%, with $5.8 billion in 2022 compared to $8.8 billion in 2021. Our Next Energy(ONE), an energy storage solutions company developing a hybrid system based on a cobalt-free battery and a lithium iron phosphate battery for EVs, recently closed its $300 million Series B funding round at a post-money valuation of $1.2 billion.