Li Industries, a Virginia-based closed-loop battery recycling solution provider, has raised USD 6 million in an extension to its Series B funding round. The round saw participation from General Motors (GM) Ventures, DNX Ventures, and Tech Energy Ventures. This brings the company's total funding to over USD 50 million.
Li Industries plans to leverage this recent capital injection to expand its operations and cultivate strategic partnerships. The funds will also be directed toward further improvements in its recycling technologies.
Analyst QuickTake: The latest funding brings the company’s Series B round to a close, having raised a total of USD 42 million. The company announced its Series B round in May 2024 , which raised USD 36 million to support the construction of a recycling facility.
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