# Diagon

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/diagon

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.diagon.ai/
- Total disclosed funding: $5.1M
- Latest round: Seed (Apr 17, 2024)
- Investors on record: 8

## About

Based in the US, Diagon specializes in the buying and selling of battery manufacturing equipment, serving a global clientele in the battery production sector with a focus on facilitating seamless transactions.Founded in 2023 and headquartered in San Francisco, US, Diagon operates in the battery equipment marketplace. The founder, Shridharan Muthu, has previously held leadership roles in technology-driven startups. The company has successfully raised USD 5.1 mn in Seed funding as its first round, led by The Westly Group with several other investors participating. This funding is dedicated to enhancing the technological capabilities of the platform, expanding workforce capacity, and broadening market outreach.Diagon Marketplace specializes in the buying and selling of battery manufacturing equipment, catering to a diverse range of customers in the battery production industry. The company's core offerings include high-quality equipment for research and development, pilot production, and large-scale manufacturing, featuring both new and used options. Key services include sourcing specialized equipment tailored to specific battery attributes and chemistry, along with exclusive deals on surplus and overstock items. The marketplace aims to create efficiencies by connecting buyers—such as battery manufacturers and R&D facilities—with trusted suppliers, ensuring seamless transactions. Diagon's products are available in various global markets, including North America, Europe, and Asia, where the demand for advanced battery technology is rapidly growing.Diagon generates revenue through transactions facilitated on its platform, primarily focusing on B2B relationships within the battery manufacturing sector. The company operates on a commission-based model, earning fees from sellers for listing equipment and facilitating sales. Customers benefit from exclusive access to premium equipment listings, enhancing their purchasing decisions. Diagon also provides services like shipping and installation support, adding value to its offerings. The transaction structure promotes efficient exchanges, allowing companies to buy and sell surplus equipment while maintaining fair market prices. The platform's potential for scalability, combined with its focus on specialized equipment for diverse battery forms and manufacturing scales, positions it well within the industry.In April 2024, Diagon raised USD 5.1 mn in Seed funding, led by The Westly Group, to support the technological advancement of its platform, expand its workforce, and grow its market reach. The company plans to design and launch new product offerings tailored to emerging battery technologies, with a focus on expanding into additional regions across North America and Europe by the end of 2025.

## Funding rounds

- Seed, Apr 17, 2024, $5.1M — The Westly Group, Anthemis, Techstars, Valia Ventures, Refashiond, Ventures Together, Foster Ventures, Foxe Capital

## Investors

- The Westly Group (https://capitalatlas.ai/funds/the-westly-group) — Seed
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed
- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Valia Ventures (https://capitalatlas.ai/funds/valia-ventures) — Seed
- Refashiond (https://capitalatlas.ai/funds/refashiond) — Seed
- Ventures Together (https://capitalatlas.ai/funds/ventures-together) — Seed
- Foster Ventures (https://capitalatlas.ai/funds/foster-ventures) — Seed
- Foxe Capital (https://capitalatlas.ai/funds/foxe-capital) — Seed