The round was lead by Daphni and LEA Partners, and included Founders Future, AFI Ventures and Kima Ventures.
“Moonwatt is developing the world’s first energy storage solution specifically for solar power,” it said. “The funding will be used to accelerate the development and deployment of Moonwatt’s hardware and software technology and expand the team.”
Sodium is an attractive alternative to lithium in ion-shuttling batteries because the metal is far more abundant and cheaper to produce, but technical hurdles have largely kept the technology out of the market.
“We started our product design from a blank sheet of paper, freeing ourselves from legacy features inherited from other segments of the battery industry, with the goal of designing a system from scratch,” said Moonwatt CEO and founder Zukui Hu (pictured, front right). “Our vision is a product that can be deployed anywhere, and that can be scaled up multiple orders of magnitude without facing raw materials scarcity.”
Moonwatts other founders are Guillaume Mancini (CTO) and Valentin Rota (COO). The three ” met during their time at Tesla Energy nine years ago, and have been working together since,” according to Moonwatt, which was founded last year and is headquartered in Amsterdam.
Founded in 2015, Daphni is a European leading venture capital firm. LEA Partners is a multi-stage venture capital and private equity firm founded in 2002. Founders Future is an early-stage investment group founded in 2018. AFI Ventures is a seed and pre-seed fund managed by Ventech.
Image: Moonwatt
