To help electric planes take off, German battery company Customcells says it landed about $63 million (€60 million) in Series A funding from Porsche and several climate-tech investors.
World Fund, a one-year-old venture firm that backs European climate startups, led the deal. Abacon Capital and Vsquared Ventures also chipped in.
Customcells develops and recycles high-performance lithium-ion batteries that power products like cars, medical equipment and fossil fuel development (despite its stated decarbonization goals). The company also makes batteries for high-heat environments north of 122 degrees F. For this funding round, Customcells has a specific aim in mind: accelerating its push into “e-aviation” as well as its expansion outside of Germany and into the U.S. and Asia.
There’s no question that air travel is a serious climate change driver. Still, the sector is a long…
Porsche, World Fund join $63M bet on batteries for electric planes
