The battery sector is a major hub for high-growth companies, with 25 startups reaching unicorn status. Sweden's Northvolt leads the pack with a $12B valuation, showing the massive capital flowing into electric vehicle battery manufacturing.
The field extends beyond traditional battery production to include areas like recycling and residential power. For instance, Redwood Materials focuses on sustainable materials, while Base Power, founded in 2023, has already reached a $4B valuation for its home battery systems.
Below is the full list of 25 Battery unicorn startups at this time.
Top 10 Most Valuable Battery Unicorns
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Get the Sheet for $50Northvolt develops and manufactures sustainable lithium-ion batteries for electric vehicles and large-scale energy storage. Their work is central to Europe's transition to renewable energy, providing the critical battery technology needed to power a decarbonized future.
| Valuation | $12B |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2016 |
| Founders | Harald Mix, Nikolai V Gourine, Paolo Cerruti, Peter Carlsson |
| Funding Amount | $13.8B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | BlackRock, European Investment Bank, Bpifrance, BNP Paribas, Goldman Sachs |
AESC develops and manufactures high-performance lithium-ion batteries designed for electric vehicles and energy storage systems. Their technology is a key component for major automakers and energy companies, supporting the global shift toward electrification.
| Valuation | $10B |
| Headquarters | Sagamihara, Kanagawa, Japan |
| Year Founded | 2007 |
| Founders | — |
| Funding Amount | $1.4B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Corporate Round |
| Top Investors | Sumitomo Mitsui Banking Corporation, National Wealth Fund, European Commission, Nissan Motor |
CALB specializes in the research, development, and manufacturing of lithium batteries and battery materials. Their technology is foundational to the energy storage and electric vehicle sectors, powering a wide range of applications.
| Valuation | $8B |
| Headquarters | Changzhou, Zhejiang, China |
| Year Founded | 2007 |
| Founders | — |
| Funding Amount | CN¥12B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Venture Round |
| Top Investors | Yangtze River Xiaomi Industry Fund, Jinyuan Group, HSG, China Insurance Investment Fund, GAC Capital |
SVOLT develops and manufactures automotive power batteries and comprehensive energy storage systems. They provide key battery technology for the electric vehicle market and other industrial energy applications.
| Valuation | $6.51B (Joined June 2020) |
| Headquarters | Changzhou, Zhejiang, China |
| Year Founded | 2018 |
| Founders | — |
| Funding Amount | CN¥20.8B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | IDG Capital, Cathay Capital, Shenzhen Capital Group, China Mobile, CDH Investments |
Redwood Materials recycles end-of-life batteries from sources like electric vehicles and consumer electronics to produce essential battery components. They are creating a closed-loop domestic supply chain that returns valuable metals back into U.S. battery manufacturing.
| Valuation | $6B (Joined July 2021) |
| Headquarters | Carson City, Nevada, United States |
| Year Founded | 2017 |
| Founders | JB Straubel |
| Funding Amount | $4.2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Valor Equity Partners, Eclipse Ventures, Amazon, Franklin Templeton, Fidelity |
Sunwoda Electric Vehicle Battery develops and manufactures battery systems for the new energy vehicle industry. They specialize in creating comprehensive battery pack solutions tailored for various electric vehicle applications.
| Valuation | $5B |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2014 |
| Founders | — |
| Funding Amount | CN¥16.1B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series B |
| Top Investors | Meituan, Li Auto, Nasdaq, Source Code Capital, Shenzhen Capital Group |
Base Power builds residential backup battery systems that work with their own electricity plans to give homeowners a reliable power source. Their service is designed to keep homes powered through grid outages, combining energy storage with a modern provider plan.
| Valuation | $4B (Joined October 2025) |
| Headquarters | Austin, Texas, United States |
| Year Founded | 2023 |
| Founders | Zachary Dell |
| Funding Amount | $1.3B |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | Bond, Lowercarbon Capital, Andreessen Horowitz, Valor Equity Partners, Lightspeed Venture Partners |
Hithium Energy Storage develops and produces stationary battery systems for utility-scale and commercial energy storage. They specialize in the research and manufacturing of the core lithium-ion battery materials that power their own storage products.
| Valuation | $4B |
| Headquarters | Xiamen, Fujian, China |
| Year Founded | 2019 |
| Founders | Jason Wang |
| Funding Amount | CN¥6.5B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | GoldStone Investment, CICC, CDH Investments, Matrix Partners China, Dayone Capital |
Sila develops and manufactures advanced battery materials designed to improve the performance of lithium-ion batteries. Their silicon anode technology replaces traditional graphite to significantly boost energy density for electric vehicles and consumer electronics.
| Valuation | $3.3B (Joined April 2019) |
| Headquarters | Alameda, California, United States |
| Year Founded | 2011 |
| Founders | Alex Jacobs, Gene Berdichevsky, Gleb Yushin, Mike Speiser |
| Funding Amount | $1.4B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series G |
| Top Investors | National Science Foundation, Coatue, 8VC, T. Rowe Price, Bessemer Venture Partners |
Beta Technologies builds all-electric aircraft capable of both vertical and conventional takeoff and landing. To support the transition to sustainable aviation, they also provide a network of charging systems and pilot training programs.
| Valuation | $3B (Joined April 2022) |
| Headquarters | South Burlington, Vermont, United States |
| Year Founded | 2017 |
| Founders | Kyle Clark |
| Funding Amount | $1.8B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Corporate Round |
| Top Investors | RedBird Capital Partners, GE Aerospace, Qatar Investment Authority, Export-Import Bank of the United States, Fidelity |
The Remaining 15 Battery Unicorns
While the most valuable companies get a lot of attention, they are only part of a much bigger picture. Founders across the globe, particularly in the United States and China, are building the next generation of battery technology.
They have collectively raised billions of dollars to bring their ideas to life. Below is a look at the other startups that are helping to define the future of energy storage.
