Addionics, a UK startup that provides specialised automobile batteries for electric vehicles and other applications, has raised $6 million (approx €5.4 million) in funding led by Next Gear Ventures. On top of that, the company also got a $2.5 million (approx €2.2 million) grant as part of the European Union’s Horizon2020 innovation competition.
Founded by Farid Tariq, Moshiel Biton, and Vladimir Yufit in 2017, Addionics provides specialised improved rechargeable batteries by redesigning their architecture. With a novel and patent-pending 3D metal fabrication method, the company enhances performance, mileage, safety, cost, and charging time of batteries.