VFlowTech raises US$10m in Series A funding
The startup will use the funds to expand its market presence in the US. amongst others.
Singapore-based provider of vanadium-based redox flow batteries, VFlowTech, raised US$10m ($13.3m) in a Series A funding led by Real Tech Holdings, a Japan-based venture capital (VC) firm.
Returning investors such as SEEDS Capital, Wavemaker Partners and Sing Fuels also participated in the “oversubscribed” funding round.
The startup said it will use the funds to expand its market presence to Türkiye, the US, Japan and India.
It also plans to set up a 200MWh production line capacity and scale up the manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions.
With the funds raised, VFlowTech also plans to intensify its research and development efforts to further improve its technology, increase its system capacity and explore new markets with emerging demand for sustainable energy storage solutions.
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