GM Leads $39M Investment in Israeli Smart Battery Company Addionics

General Motors Ventures has co-led a $39 million funding round for Addionics, an Israeli company focused on enhancing car battery performance through advanced technology. The investment round was also led by Deep Insight and included contributions from Scania, Union Tech Ventures, Delek Motors, and other investors.

Founded in 2017 by CEO Dr. Moshiel Biton, CSO Dr. Farid Tariq, and CTO Dr. Vladimir Tufit, Addionics employs 60 people and operates offices in Israel, the US, the UK, and Germany.

Addionics specializes in the development and manufacturing of 3D Current Collectors, which significantly improve battery performance by enhancing heat dissipation throughout the electrodes. This results in faster charging times, increased power, and better stability, ultimately leading to higher-performing batteries at a reduced cost.

The company's drop-in solution allows for easy integration of the 3D Current Collectors, enabling cost-effective production and swift deployment for manufacturers.

Source: Galit Hatan / Globes