Reefilla, a startup that provides mobile and predictive charging delivery service for electric vehicles, has secured €4.5 million (~$4.8 million) in funding.
The round was led by CDP Venture Capital through the Green Transition-PNRR Fund, financed with NextGeneration EU resources, with co-investment from the PiemonteNext fund, also set up and managed by CDP Venture Capital.
Other investors include HCapital Partners, a Portuguese venture capital fund, Azimut through its venture capital fund Azumut Eltif – Venture Capital ALIcrowd III, and Motor Valley Accelerator, the first investor in Reefilla.
The company states that this funding will be used for R&D to transform end-of-life batteries into second-life batteries, which can be used in energy storage and mobile charging. Reefilla will also expand its service in the Italian and foreign markets using this funding.
This funding round follows the €1 million (~$1.06 million) round closed in 2022, which allowed Reefilla to bring its technology to the market.
“We are proud to have attracted the interest of Italian and international capital in support of a clear vision and a concrete industrial project – explains Marco Bevilacqua, CEO and Co-Founder of Reefilla – We want to build a circular supply chain that enhances the reuse of batteries and offers tailor-made energy solutions for people and companies”.
In 2025, Reefilla plans to inaugurate a Competence Center at its new headquarters in Turin, dedicated to testing, and battery qualification that allows a second life for batteries and the production of the new range of products.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease YoY compared to $8.6 billion in 68 deals in 9M 2023.
In May, Cylib, a Germany-based battery recycling startup, secured €55 million (~$59.79 million) in a Series A funding round co-led by World Fund and Porsche Ventures. The round was joined by Bosch Ventures, DeepTech & Climate Fonds, NRW.Venture.
