Moirans-based WATTALPS, a startup specializing in lithium-ion batteries, has secured €11 million in a Series A funding round led by Supernova Invest, Move Energy, and Ring Capital. Existing investors, including EIT InnoEnergy, Eximium, and EIC Fund, also participated. The funds will be used to advance WATTALPS’ battery technology and significantly expand its manufacturing capabilities in Moirans, near Grenoble.
WATTALPS plans to use the investment to enhance its modular and high-performance lithium-ion batteries, which feature patented immersion cooling technology. The company aims to increase its production capacity eightfold, boosting output to over 16,000 batteries annually, with a range from 10 kWh to 500 kWh. The expansion is expected to drive WATTALPS’ revenue to over €100 million within five years.
Advertisement
Meeting Diverse Market Needs and Expanding Reach
With this new capital, WATTALPS will also broaden its product range to meet various market demands and extend its commercial coverage beyond Europe. The company plans to double its workforce to 40 employees within the next 18 months and move to a larger factory, further positioning itself to meet growing global demand for high-performance batteries.
Leading the Charge in Heavy-Duty Applications
Founded in 2018 by Manuel Ronco, Matthieu Desbois-Renaudin, and Jean-Noël Carminati, WATTALPS provides certified modular batteries for heavy-duty mobile applications across industries such as construction, agriculture, mining, and transportation. The company’s batteries have already been validated by a range of organizations, from SMEs to large international businesses.
Accelerating Electrification in Off-Highway Markets
The company has experienced significant revenue growth, with a fivefold increase in 2023 and a threefold increase in 2024, driven by the electrification of its target markets. According to the company, each WATTALPS battery module prevents 1.27 tons of CO2 equivalent when used to electrify industrial equipment, contributing to substantial emissions reductions.
Investor Support for Sustainable Innovation
Supernova Invest and Move Energy, both key investors in this funding round, are deeply committed to supporting sustainable technologies. Marine Glon, Investment Director at Supernova Invest, expressed confidence in the startups potential to lead the market with its innovative solutions. Mirjam Terhorst, Partner at Move Energy, highlighted the startup’s ability to decarbonize heavy-duty vehicles, particularly in Northern Europe.
