Bold, the Barcelona-based technology company, has announced the recent closing of €2.3 million in Seed investment. Funds will be used to accelerate the development of high-performance battery technology for aviation, automotive and stationary applications.
The round was led by David Vilanova, board member at end-of-line machinery producer Tavil, and industrialist Josep Maria Tarragó, early-stage investor in Wallbox recently listed on the NYSE. Other minority investors also participated in the round.
Commenting on the investment, Bernat Carreras, CEO at Bold, stated: “The successful conclusion of our first Seed funding is a clear indicator that our value proposition is well received by investors who share our passion to accelerate the world’s transition to carbon neutrality and represents a key milestone in our journey to become a leader in the field of energy storage and electrification solutions.This achievement comes after receiving strong interest from potential customers combined with an incredible effort from all our valued employees who have been instrumental in developing the first battery prototypes. The funds will be used to accelerate technology development by means of investment in CAPEX and to recruit talented engineers from a diversity of countries”.
Established in 2019 and led by former Formula 1 engineers, Bold’s expertise lies in the light-weighting of structural components with the use of advanced composite materials and the development of bespoke high-voltage energy storage solutions. The company consists of a team of over 35 engineers that serve a global client base in sectors such as Formula 1, Automotive, Aerospace and Renewables.
Bold’s battery technology targets applications where weight and safety are critical. The current product development pipeline includes a solution capable of achieving gravimetric specific energy of 350 Wh/kg at battery pack level while complying with demanding aviation standards such as DO-311A and DO-160G.
With this technology, Bold aims to become a leader in energy storage solutions for the electrification of the aviation industry.