kindrik partners advise on seed funding round for greentech startup green li-ion
Our Southeast Asia team have advised greentech startup Green Li-ion on its US$3.45m seed funding round. The round was led by US-based cleantech company LiNiCo Corporation. Previously, Green Li-ion raised US$400,000 in pre-seed funding as part of Entrepreneur First’s 2020 cohort in Singapore.
Green Li-ion produces sustainable solutions for battery rejuvenation and recycling.
“The precious metals used to manufacture lithium-ion batteries are often mined in socially and environmentally damaging ways and the reason why they are not recycled is that it is simply not economical to do so with the current technology,” says Leon Farrant, Green Li-ion’s Chief Executive Officer.
“With Green Li-ion, we are committed to introducing the next generation of battery rejuvenation and closing the loop,” says Leon.
The company intends to put the funding towards hardware development, including engineering and specialist manufacturing support.
On the topic of the capital raise, Leon says, “There were a number of moving parts to the transaction and Kindrik were invaluable in getting the deal over the line.”
“It’s great to see greentech get funded here in Singapore and see Green Li-ion leading the charge in sustainable battery recycling”, partner Chris Wilson says.
“It was a pleasure helping them with their seed funding round and we can’t wait to see what they do next.”