US-based battery testing technology startup Liminal has closed a $10-million strategic investment round led by LG Technology Ventures, the venture capital arm of South Korea's LG Group.
The round included new investment from Taiwanese company Chailease Holdings and participation from existing investors including ArcTern Ventures, University of Tokyo Edge Capital Partners, Good Growth Capital, Chrysalix Ventures and Ecosystem Integrity Fund.
Liminal previously raised $8 million in Series A funding in 2022 and $17.5 million in an A2 round last year.
The company's quality control systems use ultrasound testing and physics-informed data science to provide information to battery cell manufacturers to accelerate production ramp-ups, improve quality and reduce waste and costs. The company said it shipped its in-house test product to a European supermarket late last year, has an active pilot with Asia's largest battery cell manufacturer, and will ship to a US-based automotive OEM in the coming weeks.
“This funding will enable us to rapidly deploy our quality control solutions to more customers and more production lines,” said Andrew Hsieh, founder and CEO of Liminal.
“LG Technology Ventures is committed to investing in companies that we believe have the potential to move industries forward,” said Robert McIntyre, Managing Director at LG Technology Ventures. “The current state of the EV market and the challenges manufacturers have in scaling up battery production show a pressing need to address battery quality—an area where Liminal has shown success.”
Source: Liminal
