Battery manufacturing intelligence startup Liminal announced that it has raised $17.5 million, with proceeds from the financing aimed at scaling its platform providing data and analytics for EV battery manufacturing.
Founded in 2015, Liminal utilizes ultrasound technology combined with machine learning to provide advanced insights to battery manufacturers, enabling improved battery performance and safety, and lower lifetime costs. The company launched the EchoStat platform in 2022, a high-speed ultrasound inspection solution engineered specifically for EV-grade batteries, aimed at helping battery cell manufacturers and auto OEMs to commercialize and reduce time to market.
Liminal CEO and Co-Founder, Andrew Hsieh, said:
“Our mission is to catalyze a clean energy future in which EVs are the default option for everyone. Our products help battery manufacturers hit their aggressive production volume and cost targets, while ensuring their cells meet stringent EV safety and performance requirements.”
The funding round was led by climate tech investor ArcTern Ventures, with new investors joining the financing including Swedish gigafactory company Northvolt, and environmental sustainability-focused early growth-stage investor Ecosystem Integrity Fund.
ArcTern Partner Mira Inbar said:
“Most battery innovation to date has focused on material science. However, the industry needs a larger focus on process and manufacturing innovations to ensure both affordability and safety. Liminal is the only company that we see effectively bridging that critical gap.”
Northvolt co-founder and Chief Operating Officer Paolo Cerruti said that the company has successfully evaluated Liminal’s solutions at Northvolt’s Ett in Skellefteå, Sweden. Cerruti said:
“Northvolt’s intention is to accelerate the transition to a sustainable and electrified society. Ensuring high-quality cells through cost-competitive technology innovation is what this investment is about. Northvolt’s participation in this round will contribute to the scale-up and industrialization of Liminal’s solutions by combining the unique skill sets of the two companies.”