# Romeo Power

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/romeo-power

- Industry: Energy Storage & Batteries
- Headquarters: Cypress, US
- Website: www.romeopower.com
- Latest round: Seed (Nov 15, 2016)
- Investors on record: 1

## About

Romeo Power, Inc. specializes in advanced battery technology solutions, focusing on the design and manufacturing of electric vehicle battery systems, promoting sustainable energy for transportation.Founded in 2015, Romeo Power, Inc. is based in Cypress, US, and provides innovative battery systems for electric vehicles. The company was acquired by Nikola Motor Company in August 2022 for approximately USD 144 mn in stocks. The CEO, Lionel Selwood, leads the company, which has closed a total of 6 funding deals, raising USD 4.00 mn to date.Romeo Power, Inc. develops and manufactures high-performance battery systems that power electric vehicles, delivering energy solutions aimed at enhancing efficiency and sustainability. The company serves clients across North America and Europe, providing tailored energy storage solutions for various applications in the electric vehicle market.In the most recent fiscal year, Romeo Power, Inc. reported a revenue of USD 8,974,000 and an EBITDA of USD -32,336,000 for 2020.Following the acquisition by Nikola Motor Company, Romeo Power, Inc. plans to accelerate product development to enhance its battery technology. The recent funding will support the development of new battery solutions targeting the electric vehicle sector, with a focus on expanding market reach in North America and Europe. The company aims to launch these new products in the coming year, leveraging the resources from the acquisition to enhance its technological capabilities.

## Funding rounds

- Seed, Nov 15, 2016 — OpenDoor Venture Capital

## Investors

- OpenDoor Venture Capital (https://capitalatlas.ai/funds/opendoor-venture-capital) — Seed