GvW advises Vsquared Ventures on 60 million euro financing round of CUSTOMCELLS

Vsquared Ventures further expands its participation in CUSTOMCELLS: The manufacturer of lithium-ion battery cells has successfully closed a €60 million Series A financing round. Together with the two lead investors, climate-tech venture capital investor World Fund and Hamburg-based family office Abacon Capital, and the existing investors Porsche, Vsquared Ventures participated in the financing round, thereby significantly increasing its participation in CUSTOMCELLS.

CUSTOMCELLS is a spin-off of the Fraunhofer-Gesellschaft and, with ten years of know-how and numerous patents, is among the leading suppliers of lithium-ion battery cells. The proceeds from the Series A financing round will be used to further develop the company, which has facilities in Itzehoe and Tübingen, into a global player and a major premium brand in the worldwide battery cell business. In addition to further internationalization, CUSTOMCELLS intends in particular to expand its activities in the field of air traffic electrification and research and development.

Vsquared Ventures is dedicated to the industrialization of next-gen technologies. The Munich-based venture capital investor focuses on early-stage investments in deep-tech companies.

GvW advised Vsquared Ventures on this transaction through Titus Walek, Eric Walter (both venture capital) and Dr Joachim Mulch (IP). A GvW team led by Titus Walek has previously advised Vsquared Ventures on its initial investment in CUSTOMCELLS in 2021.