# POEN

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

- Industry: Energy Storage & Batteries
- Headquarters: Uiwang-Si, South Korea
- Website: www.poenpoen.modoo.at
- Total disclosed funding: $39M
- Latest round: Series B (Jul 9, 2024)
- Investors on record: 16

## About

Based in Uiwang-si, South Korea, founded in 2019, POEN trading under the name POEN Co., Ltd., operates as a manufacturing company that remanufactures secondhand battery packs used for electric vehicles, provides battery-relates technical services, and distributes waste battery-related materials. In April 2024, POEN raised KRW 40 billion in series B funding from new investors Korea Development Bank, Shinhan Venture Investment, SV Investment, Hyundai Marine & Fire Insurance, Lotte Rental. The company will use the funding to expand its business to the United States and Europe within the year.

## Funding rounds

- Series B, Jul 9, 2024, $28M — Shinhan Venture Investment, Hyundai Marine & Fire Insurance, Industrial Bank of Korea, KDB Capital, DSC Investment, SV Investment, L&S Venture Capital, Hyundai Motor Company, SJ Investment Partners, K2 Investment Partners, E&Venture Partners, Schmidt, Lotte Rental
- Series B, Apr 19, 2024, $2.9M — Korea Development Bank, Shinhan Venture Investment, Hyundai Marine & Fire Insurance, SV Investment, Lotte Rental
- Series A, Jul 7, 2021, $6.4M — DSC Investment, D.CAMP, L&S Venture Capital, SJ Investment Partners, K2 Investment Partners, E&Venture Partners, Schmidt, Hyundai Motor Securities
- Series A, Jun 11, 2021, $1.8M — DSC Investment
- Seed, Sep 1, 2020 — Schmidt

## Investors

- Schmidt (https://capitalatlas.ai/funds/schmidt) — Seed, Series A, Series B
- DSC Investment (https://capitalatlas.ai/funds/dsc-investment) — Series A, Series B
- D.CAMP — Series A
- L&S Venture Capital (https://capitalatlas.ai/funds/l-s-venture-capital) — Series A, Series B
- SJ Investment Partners (https://capitalatlas.ai/funds/sj-investment-partners) — Series A, Series B
- K2 Investment Partners (https://capitalatlas.ai/funds/k2-investment-partners) — Series A, Series B
- E&Venture Partners (https://capitalatlas.ai/funds/e-venture-partners) — Series A, Series B
- Hyundai Motor Securities — Series A
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- Shinhan Venture Investment (https://capitalatlas.ai/funds/shinhan-venture-investment) — Series B
- Hyundai Marine & Fire Insurance — Series B
- SV Investment (https://capitalatlas.ai/funds/sv-investment) — Series B
- Lotte Rental — Series B
- Industrial Bank of Korea — Series B
- KDB Capital (https://capitalatlas.ai/funds/kdb-capital) — Series B
- Hyundai Motor Company — Series B