Anaphite, a UK-based company that was founded to explore ways to incorporate graphene into Li-ion batteries to improve battery life and charging times, has raised about £1.2 million (over USD$1,665,000) from investors in a new funding round.
The funding round was led by Zero Carbon Capital, which is investing £300,000. Zero Carbon Capital backs UK-based hard-science start-ups on a mission to address the toughest problems of climate change.
Bristol Private Equity Club (BPEC) is investing £491,000. It is a second tranche of funding from BPEC, which previously invested in Anaphite.
SyndicateRoom, a fintech venture capital funder based in Cambridge, is investing £107,000 and the rest of the package of funds has come from individual investors.
Anaphite chief operating officer Alexander Hewitt said: "In order for society to transition to sustainable energy, we need mass adoption of electric transport, meaning batteries need to cost less, charge faster and live longer. We believe our technology truly addresses these critical pain points... Our production process is also inherently scalable to the levels required to make a real dent in this rapidly growing industry, hopefully increasing our chances in the ongoing battle with climate change. Having such a diverse group of investors seeing the potential of what we have here is incredibly encouraging."