With the rise of EVs and increasing demand for electronics, one of the biggest concerns is the battery shortage. You need materials like nickel and cobalt.
But the typical process is unsustainable and expensive, especially for high-purity nickel.
That’s what US-based BANIQL is here to solve! Oh, and they’ve just raised a $1.6M seed led by Beenext.
Investor check. Seedstars International Ventures, A2D Ventures, Sopoong Ventures, and several angel investors, including some from XA Network, also joined in!
🪨 A little more detail
Traditional nickel mining and refining methods negatively impact nearby national habitats. Plus, the global supply chain is ineffective, especially with increasing demand.
🔋Win-win
They’ve got US patent-pending extraction tech that makes the process both more environmentally friendly and cheaper.
They also have made strategic partnerships within the mining industry.
💡Talking about the future
With the new $$$, they’ll develop a prototype facility, expand their R&D and engineering teams, and fund general operations.
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