Manufacturer of lithium-ion batteries

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About the company

StoreDot is a startup that develops batteries to replace the lithium-ion components which can charge an electric vehicle in 5 minutes.

Valuation

$1.2B

Country

Israel

Founded

2012

Lead investors

British Petroleum

Daimler AG

Samsung Ventures

Business highlights

1

StoreDot XFC batteries are intended for production on existing lithium-ion production lines, unlike the competition. Switching to the production of StoreDot XFC batteries does not require high capital investment for new equipment.

2

In 2019, StoreDot in cooperation with BP Plc have presented a scooter charger that could provide power for 70 km in just 5 minutes.

3

In July 2020, the company proved its ability to scale technology to other industries. With a help of XFC, it was possible to fully charge a commercial drone in 5 minutes, while average batteries powering from 60–90 minutes.

Funding rounds

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Management

CEO

Doron Myersdorf

CFO

Meir Halberstam

CTO

Daniel Aronov

Deal terms

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Company tags:
GreenTech Early stage
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Last updated:
11 December 2020

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