Nyobolt, a UK-based startup developing fast-charging lithium-ion batteries, has raised GBP 50 million (~USD 59.5 million) in a Series B funding round led by H.C. Starck Tungsten Powders, whilst existing investor IQ Capital also participated in the round. This brings the company’s total funding to USD 83.4 million. 

The proceeds will be used to scale up the manufacturing capabilities of Nyobolt. This involves the deployment of its initial manufacturing facility in the UK and expansion of the company’s US cell engineering facility to support global team expansion. Mass-scale production of batteries is expected to start in 2023.    

In addition to the funds provided, H.C. Starck Tungsten Powders is also a key component provider for Nyobolt’s batteries.