Anaphite raises over US$4.8 Million to further its graphene-enhanced batteries tech

UK-based startup Anaphite has announced the closing of a £4.1-million (around US$4.8 million) seed round, led by Elbow Beach Capital with a £1.5-million (US$1.8 million) investment and supported by Wealth Club, Blue Wire Capital, Oxford Investment Opportunity Network, Zero Carbon Capital, Silicon Roundabout Ventures and Deeptech Labs.

Anaphite incorporates graphene into battery materials, via an inexpensive and scalable process that fits directly into existing cell production lines. Anaphite mainly focuses on the enhancement of lithium-ion batteries for the electric vehicle industry, for which it aims to reduce battery manufacturing costs by over 10%. The company’s technology is also said to improve battery capacity and charge rates, potentially reducing charging time by 50%.