Circunomics GmbH, a German start-up based in Mainz, has successfully closed its Series A financing round in December 2024, securing over eight million euros from prominent investors. Established in 2019, Circunomics is advancing the circular economy for lithium-ion batteries by promoting international expansion and developing new digital services. As electric vehicles become more widespread, the demand for environmentally friendly recycling or repurposing of batteries has intensified. Circunomics addresses this need with its unique Battery Lifecycle Management Solution, which includes a digital B2B marketplace and AI-powered analytics that encompass the entire battery lifecycle, significantly contributing to CO2 reduction.
The financing round was led by GET Fund from Munich and Schaeffler AG through its investment arm, Schaeffler Invest GmbH, based in Herzogenaurach. Existing investors such as the Polish oil and energy company Orlen and GG Rise from Düsseldorf also participated in the round.
“We now have the resources to expand internationally and firmly establish ourselves as a global company,” said Felix Wagner, Co-Founder and CEO of Circunomics. “This successful Series A financing round opens up numerous opportunities to continue our business, drive growth, and ensure a sustainable circular economy.” Jan Born, Co-Founder and CTO, added, “In parallel with internationalization, we are working intensively on expanding our product offerings, which will include new digital services in the future.”
Circunomics specializes in the B2B trade of used or surplus battery packs, modules, and cells through a digital marketplace. The company facilitates the transition of energy storage systems from first-life use to second-life applications. Its AI-powered software provides detailed analysis of each battery’s state of health (SoH) and utilizes digital twin technology to simulate the most suitable second-life applications based on performance potential. Batteries unsuitable for second-life use due to their condition are directed to qualified recycling companies. Circunomics connects industry partners across all stages of the battery supply chain to enhance the reuse and recycling of batteries.
“Circunomics offers a valuable solution for both the transition to electromobility and renewable energy adoption,” said Julian Klaiber, Principal at GET Fund. “While one sector will face a significant supply of end-of-life batteries, the other requires storage and balancing capacities. We are excited to support a team and innovation that bridges both sectors, creating an added value chain and economic advantages for customers.”
Jens Schüler, Board Member of Vehicle Lifetime Solutions at Schaeffler AG, commented, “Together with the Mainz-based start-up, we aim to contribute to sustainable battery utilization. We see great potential in Circunomics’ lifecycle management and digital marketplace for used batteries, particularly for electromobility and other industrial applications.”
Felix Wagner emphasized the company’s mission: “Through our independent digital marketplace and detailed analytics, we aim to strongly contribute to bringing battery packs, modules, and cells into a meaningful, sustainable, and comprehensive circular economy. This reduces the carbon footprint for the benefit of the environment and decreases the use of rare, valuable materials. It also significantly optimizes cost structures for companies.” He added, “The challenges and future potential for Circunomics are immense: globally, by 2030, the automotive sector alone is expected to generate five to six million used vehicle batteries annually that will reach the end of their lifecycle.”
New and existing investors are fostering the solid growth of Circunomics. GET Fund is a venture capital firm supporting start-ups across Europe in green technologies for energy, mobility, and industry to build a sustainable future. Schaeffler, a leading motion technology company, brings extensive expertise in the automotive lifecycle through its Vehicle Lifetime Solutions division, providing benefits to Circunomics in marketplace development, analysis, and the integration of additional features into its offerings.
Source: CX Press
