Li Industries raises $7M in Series A financing

Li Industries, a startup which has developed an technologies for sorting and direct recycling of lithium-ion batteries has closed a fundraising of $7M led by Khosla Ventures with Shell Ventures and Xerox Ventures as participant investors.

In May 2022 Li Industries, which was founded in 2017 and is headquartered in Blacksburg, VA, received a quarter of the Phase 3 of the US Department of Energy's recycling prize for its AI-based sorting systems which enables separation of lithium-ion batteries based on its sub chemistry.

The startup has so far not been disclosing any details about its recycling technology which is said to include deactivation of the batteries, separation of materials and regeneration of both cathode and anode materials.

The company plans to build a commercial battery sorting and recycling facility in the US with plans to open in 2023.

Read more about the company and the fundraise here.