Battery cell manufacturer Rincell Corporation raised $1.2 M Seed funding
Globally renowned venture capitalist Sandiip Bhammer, who manages US-based NextGen Battery Chem Ventures LLC, led a $1.2 million seed round for battery cell manufacturer Rincell Corporation.
The money will be used, according to a press release from Rincell, to prepare its silicon-graphite 18650 and 21700 batteries for mass production later this year.
Jignesh Parikh and Jagjit Nanda co-founded Rincell in 2023. The company produces sodium-ion, lithium manganese iron phosphate (LMFP), and performance silicon-graphite batteries for both commercial and government use. By employing a secure supply chain, the company hopes to expedite its mission of electrifying vital sectors through the use of high capacity-performance batteries.
Samples of Rincell’s highest capacity, high-performance Silicon-Graphite 18650 and 21700 batteries have reportedly been sent to both government and commercial clients, including Inventus Power, the biggest independent battery pack manufacturer in North America.
In addition to Rincell, Yulu, Chargeup, Inverted, Log9, Battery Smart, Lohum, Nexus Battery, and Log 9 Materials offer battery solutions for the EV market.
