Nyobolt nails $10m series A round

Nyobolt, a UK-based battery technology spinout of University of Cambridge, secured $10m yesterday in a series A round that included the institution’s tech transfer arm Cambridge Enterprise.
Venture capital firm IQ Capital led the round, which also drew in funding from unnamed Silicon Valley-based investors.
Nyobolt is developing high-powered, fast-charging batteries made from an element known as niobium. Its batteries are designed to be capable of operating at extreme temperatures and to be highly durable.
The company’s technology is based on research conducted in University of Cambridge’s Yusuf Hamied Department of Chemistry by Prof Clare Grey and Sai Shivareddy.
The proceeds from the series A round will go towards Nyobolt’s global expansion, the construction of new facilities and recruitment activities for its engineering and operational teams.
Elaine Loukes, investment director at Cambridge Enterprise, said: “The importance and significance of this technology to the post-carbon world cannot be overstated.
“We have worked with the founders from patent application through to seed funding and now A round funding and we are extremely excited to be part of the ongoing journey of this incredible company.”
Parkwalk Advisors, a fund management subsidiary of commercialisation firm IP Group, has listed Nyobolt as a portfolio company on its website.