StoreDot, a specialist in extreme fast charging (XFC) battery technology for electric vehicles, has held the first close of its Series D funding round of up to USD80 million, the majority of which has already been secured.
The round is led by key strategic investors, strengthening StoreDot’s partnerships in the global automotive battery eco-system. The lead investor is the fast-growing flagship Vietnamese electric vehicle manufacturer, VinFast, which plans to scale up manufacturing and deploy StoreDot’s Extreme Fast Charging in future EV architectures.
Participants include bp ventures, a current StoreDot investor and active partner, underpinning its purpose of reimaging energy for people and our planet. In addition, Golden Energy Global Investment Ltd., a wholly owned company by EVE Energy’s founder, Dr Liu Jincheng, will be one of the participants in the funding round.