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Li Industries raises USD 6 million in Series B extension funding to expand operations
Waste Recovery & Management Tech
Jun 27, 2024
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Waste Recovery & Management Tech

Waste Recovery & Management Tech

Jun 27, 2024

Li Industries raises USD 6 million in Series B extension funding to expand operations

Funding

  • 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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