• StoreDot, an Israeli next-generation battery startup, has secured an undisclosed investment from Polestar, a Swedish EV manufacturer, as a part of the company’s Series D funding round.

• The proceeds will be used to fund R&D activities of StoreDot’s extreme fast charging (XFC) battery cells, which are expected to enter mass production by 2024, reaching 100 miles with a five-minute charge. 

• In addition, Polestar will enter into a strategic partnership with StoreDot, to explore and trial out StoreDot’s XFC technology in future Polestar cars.  

<ul><li> Analyst QuickTake: StoreDot has also received undisclosed investments from Volvo Cars Tech Fund and Ola Electric (an Indian EV manufacturer) as a part of the company’s Series D funding. Earlier in the year, StoreDot raised USD 80 million as the first tranche of its Series D round, led by VinFast, the electric vehicle manufacturing arm of the Vietnamese conglomerate Vingroup. The funding rounds are expected to scale up the company’s commercialization plans.</ul>