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Ascend Elements Raises Additional $162M in Funding

Finsmes · 1y ago

Ascend Elements Raises Additional $162M in Funding

Westborough-based company Ascend Elements has raised an additional $162 million in funding to support the construction of its Apex 1 EV battery materials manufacturing facility in Kentucky. The round was led by Just Climate, Clearvision Ventures, and IRONGREY, and brings the total amount raised by the company to $704 million. Ascend Elements is focused on producing sustainable lithium-ion battery materials through EV battery recycling and commercial-scale production of battery precursor and cathode active materials. Its proprietary technology allows for more efficient and cost-effective production methods with reduced greenhouse gas emissions.

Related News

Ascend Elements, Elemental Strategic Metals form European EV battery recycling venture

Reuters · 1y ago

Ascend Elements, Elemental Strategic Metals form European EV battery recycling venture

U.S. company Ascend Elements and Poland's Elemental Strategic Metals have partnered to establish a joint venture called AE Elemental, aiming to recycle electric vehicle (EV) batteries. The companies have already opened a plant in Poland, with plans to build another facility in Germany. The joint venture is seeking European Union and local government funding to support the investments. The move aligns with the EU's requirement for increased recycling of materials in EV batteries. Ascend Elements has also raised substantial funding for EV battery production, while Elemental Strategic Metals is nearing completion of another funding round.

EV financing startup Ascend Capital raises Rs 50 Cr

Inshorts · 1y ago

EV financing startup Ascend Capital raises Rs 50 Cr

Commercial electric vehicle financier Ascend Capital has raised Rs 50 crore in a Series A funding round led by InfoEdge Ventures and Asha Ventures. The company said it will use the capital to expand its loan book. It added it hopes to cross Rs 300 crore in assets under management over the next two years.

Boat Planet Raises $1.2M in Seed Funding

Finsmes · 1y ago

Boat Planet Raises $1.2M in Seed Funding

Boat Planet, a St Louis-based marketplace for boat repair and maintenance, has raised $1.2 million in seed funding. The funding round was led by 46VC, with participation from Ascend Venture Capital and Quad 2 Capital. Boat Planet plans to use the funds to further enhance its platform's features and expand its reach across the country. The company connects boat owners with marine professionals, simplifying the process of finding services, obtaining quotes, and making secure payments.

BlokID Raises US$1.25M in Seed Funding

Finsmes · 1y ago

BlokID Raises US$1.25M in Seed Funding

Vietnamese blockchain developer, BlokID, has successfully closed a seed funding round, raising $1.25 million. The funding was led by Ascend Vietnam Ventures and AppWorks. BlokID aims to develop privacy protection solutions for the digital advertising industry using blockchain technology. The funds will be used to accelerate product development, focus on user acquisition, and expand into new markets. The company plans to launch by Q2 2024 and introduce features such as Google Analytics plug-ins and Financial Identity to enhance user privacy and security.

EV Financing Startup Ascend Capital Bags INR 50 Cr For Business Expansion

Inc42 · 1y ago

EV Financing Startup Ascend Capital Bags INR 50 Cr For Business Expansion

EV financing startup Ascend Capital has raised INR 50 Cr in its Series A funding round to fuel its expansion plans. The funding round was co-led by InfoEdge Ventures and Asha Ventures. Ascend Capital aims to become a leading player in India's mobility finance industry and plans to expand its book across multiple geographies, targeting an AUM of INR 300 Cr in the next two years. The company faces competition from other players in the EV financing space such as Revfin, Mufin Green Finance, Ecofy, and Vidyut.

Clarity Raises $16M in Seed Funding

Finsmes · 1y ago

Clarity Raises $16M in Seed Funding

Tel Aviv-based cybersecurity startup, Clarity, has secured $16 million in Seed funding. The round was led by Walden Catalyst Ventures and Bessemer Venture Partners, with participation from Secret Chord Ventures, Ascend Ventures, Fusion VC, and Flying Fish Partners. The company plans to use the funds to expand its operations and development efforts. Clarity focuses on detecting and eliminating deepfakes and synthetic media created by generative AI. Their technology detects AI manipulations in videos, images, and audio, providing organizations with a solution to protect their digital integrity and mitigate risks.

Homegrown social media platform Explurger raises $4.5M in funding led by Affle

IndianStartupNews

IndianStartupNews · 1y ago

Homegrown social media platform Explurger raises $4.5M in funding led by Affle

Explurger, a social media platform aimed at travelers, has raised $4.5 million in a Series A funding round led by Affle (India) Limited. The platform, launched in 2021, has gained over 8.5 million users across 75 countries and distinguishes itself with features such as an Automatic Travelogue and gamified elements. With this funding, Explurger aims to capitalize on the growing social media and travel sectors in the post-pandemic era.

Embea Raises €4M in Seed Funding

Finsmes · 1y ago

Embea Raises €4M in Seed Funding

Berlin-based insurtech Embea has raised €4m ($4.8m) in a seed funding round led by Atlantic Labs, with participation from Jamie Hale, Daniel Khachab and Michael Cassau. Embea offers an embedded life insurance platform for digital banks and fintech companies, enabling them to expand their offerings and create an additional revenue stream. The fresh funding will be used to expand the firm's pan-European platform and add new insurance products to its portfolio. Embea aims to make life insurance more accessible to underserved groups while helping its partners generate additional income.

Impact investor Asha Ventures raises $10 million from British International Investment

Economic Times

Economic Times · 4m ago

Impact investor Asha Ventures raises $10 million from British International Investment

Asha Ventures, a Mumbai-based impact investor, raised $10 million from British International Investment for its fund I, nearing a $91 million target. After a first close of $46 million in December 2023, including contributions from SIDBI and others, the final close is expected by September. Asha focuses on impact-driven, high-growth Indian businesses in financial inclusion, job creation, and climate resilience. Notable investments include firms like Ascend Capital and TrueMeds.

Capillary Technologies extends latest funding round, raises $95 million in secondary

Economic Times

Economic Times · 1y ago

Capillary Technologies extends latest funding round, raises $95 million in secondary

Capillary Technologies has raised an additional $95 million in secondary transactions as part of its Series D funding round, extending the total round to $140 million. The funding will provide exits to existing investors and employees. The company is also planning to list on the Indian bourses in the next 18 months. The latest tranche includes an additional $6 million in equity funding from angel investors. Capillary Technologies will use the capital to support its artificial intelligence initiatives, partnerships, and expand further into the US and European markets. The company is said to have an annual revenue run rate of around $75 million.

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