UP Catalyst
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UP Catalyst bags €2.3M to develop sustainable battery materials from CO2
UP Catalyst, an Estonian nanotechnology startup in sustainable carbon material production, has €2.36 million in a seed extension round. This follows the initial seed round of €4 million raised late last year, bringing the total seed funding to €6.36 million.
The round saw equal participation from Warsaw Equity Group, a leading private investment firm in Central and Eastern Europe, which backed , and Estonia’s state fund SmartCap, which backed Antler’s Nordic Fund II and Bisly. In addition, existing investors – Extantia, Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures participated in the round.
The investment will accelerate the construction of its first-of-a-kind industrial production unit, positioning UP Catalyst as the largest provider of CO2-grown carbon materials globally.