Anaphite, a UK-based company specializing in battery electrode production technology, has secured $13.7 million (£10.4 million) in Series A funding. The round was co-led by World Fund and Maniv, with participation from EEI, Nesta, Elbow Beach Capital, and Wealth Club.
Founded in 2018 by Sam Burrow and Alexander Hewitt, Anaphite has developed patented technology that could make EV battery manufacturing 30% less energy-intensive and up to 40% cheaper. The company’s process introduces a unique chemical compositing method, delivering a proprietary “precursor powder” that enables reliable dry coating for electrode production.
“Securing capital from investors that are renowned specialists in mobility, energy, and environmental investment around the world is a huge validation moment for Anaphite,” said Joe Stevenson, Anaphite’s CEO, “And affords us the resources to extend our technical lead in the market.”
The funding will be used to scale up Anaphite’s dry coating capability and commission a plant capable of producing tonnes of their composite cathode material. The company also plans to expand its team and invest in further R&D.
“This funding will help Anaphite scale up and become a partner of choice for the global market,” said Alexander Hewitt, Co-founder and COO. “Our technology has the power to revolutionize the electrode production process while lowering costs and emissions for EV and cell manufacturers.”
