A startup specializing in the management of batteries throughout their life cycle, Bib Batteries today announced a fundraising of 2.2 million euros to accelerate its mission: extend the life cycle of batteries from their first use in electric vehicles to their second life (repair, reuse or recycling). The funding round is led by Family Ventures.
Meeting the electrification challenge: a booming market
Within 10 years, 100 million electric vehicle batteries will reach the end of their life in Europe, representing a major environmental and economic challenge. Representing 40% of the price of a vehicle and between 3 and 10 tons of CO2 equivalent, battery management is becoming a crucial challenge.
“The battery sector is still young, with few standards in force. For example, unlike a telephone, it is impossible to know the health status of a vehicle battery in a few clicks. This is why we have developed an algorithm to provide reliable information on the condition of batteries throughout their use.” — Martin Vaz, CTO of Bib batteries
An algorithm for informed decision making
As the transition to electric motorization accelerates, sustainable battery management is becoming an imperative. Having reliable information on the health of batteries and their potential at each stage — first life, repair, resale, reuse, recycling — is essential to optimize their longevity and reduce their environmental impact.
Bib batteries has developed advanced technology that allows the health status of their batteries to be monitored in real time without the need to install additional hardware. This proactive monitoring not only makes it possible to extend the life of batteries but also to anticipate their second life, thus maximizing their economic value.
Since its creation, Bib batteries has monitored more than 40,000 batteries on its platform, saving 2,000 tons of CO2 thanks to repair and reuse solutions.
A fundraiser to position itself as a leader in the circular battery economy
Bib Batteries announces a fundraising of 2.2 million euros from FamilyVentures, NextGear Ventures, SuperCapital, Wendel Family Office and Techstars Paris.
“Thanks to this fundraiser, we will deploy our battery tracking and management technology on a large scale, allowing our customers the tools to extend the life of their battery in the first life and their allocation in the second life. Thus, our ambition is to become a key player in the circularity of electric batteries.” — Pierre-Amans Lapeyre, CEO of Bib batteries
About Bib batteries
Founded in 2021, Bib Batteries is a tech startup, specialized in the sustainable management of electric vehicle batteries. By guaranteeing transparency on the state of health of batteries and by offering solutions for reuse, repair and recycling, the company aims to develop the circularity of batteries while offering an economically viable solution. Bib batteries has been selected in the top 100 startups where to invest from Challenges and is labeled Solar Impulse Efficient Solution2023.
About Family
VenturesFamily Ventures is a collective of committed investors, led by Christophe de Lussac and David Chapon, which invests in innovative startups with high potential. Family Ventures invests mainly in seed and series A, in the fields of energy, economic and societal transition for companies.
