# Mecaware

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

- Industry: Environmental Services
- Headquarters: France
- Website: www.mecaware.com/
- Total disclosed funding: $12M
- Latest round: Series B (Sep 15, 2023)
- Investors on record: 6

## About

Based in France, Mecaware specializes in the recycling of lithium-ion batteries to recover strategic metals such as lithium, nickel, and cobalt, fostering sustainability within the battery manufacturing sector.Founded in 2020 in France, Mecaware focuses on recycling lithium-ion batteries to extract critical metals. The company has pivoted its operations towards large-scale recycling and has secured funding to enhance these capabilities. Mecaware's latest funding round, a Series B, raised EUR 9.944 million on September 15, 2023, led by Credit Mutuel Equity with participation from other investors. The total amount raised by the company is also EUR 9.944 million, and its current valuation is EUR 30.755 million.Mecaware specializes in the production of strategic metals, specifically lithium (Li), nickel (Ni), and cobalt (Co), through the recycling of lithium-ion batteries and production waste. Their innovative recycling technology enables the selective extraction of these metals while minimizing environmental impact, contributing to a more sustainable industry. The company primarily serves clients within the European battery manufacturing sector, addressing the critical need for a reliable and local supply of these metals, essential for the transition to decarbonized economies. By integrating their operations within local ecosystems, such as the strategic electric valley in Hauts-de-France, Mecaware enhances the circular economy and establishes robust supply chains, positioning itself as a key player in the European market for strategic metals.Mecaware has established a revenue structure centered around the direct sale of recycled strategic metals to battery manufacturers and other industrial clients. The company’s transactions typically involve B2B contracts that facilitate the supply of metals derived from recycled sources, promoting sustainable practices within the industry. Revenue is generated by processing end-of-life batteries and production scraps, with clients benefiting from a steady supply of critical materials needed for battery production. Mecaware's business model supports partnerships with gigafactories and local industries, effectively streamlining the recycling process and enhancing productivity. The company's strategic focus on local production reduces transportation costs and aligns with the growing demand for sustainably sourced materials in the battery supply chain.In September 2023, Mecaware raised EUR 9.944 million in Series B funding, which will be utilized to scale up its battery production scrap recycling program from pilot to industrial level. The company plans to expand its operations into new geographical markets, focusing on regions with high demand for battery materials. This growth strategy aims to address the increasing reliance on sustainable sourcing and local production within the battery sector.

## Funding rounds

- Series B, Sep 15, 2023, $11M — Kreaxi, Credit Mutuel Equity, UI Investissement, Credit Agricole Creation, InnoEnergy, BNP Paribas Developpement
- Series A, Dec 6, 2021, $1.1M — Kreaxi, UI Investissement, Credit Agricole Creation, InnoEnergy, BNP Paribas Developpement

## Investors

- Kreaxi (https://capitalatlas.ai/funds/kreaxi) — Series A, Series B
- UI Investissement (https://capitalatlas.ai/funds/ui-investissement) — Series A, Series B
- Credit Agricole Creation (https://capitalatlas.ai/funds/credit-agricole-creation) — Series A, Series B
- InnoEnergy (https://capitalatlas.ai/funds/innoenergy) — Series A, Series B
- BNP Paribas Developpement (https://capitalatlas.ai/funds/bnp-paribas-developpement) — Series A, Series B
- Credit Mutuel Equity (https://capitalatlas.ai/funds/credit-mutuel-equity) — Series B