StoreDot

Pre-IPO

The company’s batteries are able to recharge a smartphone in seconds and an electric car in 5 minutes.

Mark Price
$17 +48% a year
Annual Price chg.
+48%
Valuation
$880M
Funds Raised
$228M
Last Round
$80.00M 2022
Round Date
2022, D

About the Company

StoreDot developed an innovative battery by replacing graphite in a conventional lithium-ion battery with silicon nanoparticles. This allowed the company to increase the charging speed of electric cars, drones and smartphones by tens or even hundreds of times. The company has 120 patents and employs 34 PhD researchers.

StoreDot XFC batteries have a competitive advantage. No expensive special equipment will be needed for mass production: production will take place on completely ordinary lithium-ion production lines. This will considerably reduce the expenses involved in the process.

The range per minute of charging an electric vehicle with a StoreDote battery vs. a traditional lithium-ion battery:

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In 2020, Bloomberg New Energy Finance named StoreDot one of the 10 game-changing companies recognized for their leadership in transformative technologies.

StoreDot’s investors and strategic partners are powerful players of the energy power ecosystem that can help StoreDot settle issues with regulatory agencies and move the product to mass production.

Business Growth Phase

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StoreDot’s partners

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In July 2021, StoreDot set up Global Advisory Board led by David Gilmour, former director of BP Ventures. The board includes experts in the fields of electronics, electric power, automotive, and transportation of the future to help StoreDot enter the market and commercialize its technology.

Evolution of Technology

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Market Opportunities

The lithium-ion batteries market will reach $116B by 2030. StoreDot product is in high demand at least in three major industries: electronics, avionics (aircraft electronic equipment), and electric vehicles production, the latter being the main focus for the company and fast-growing. Electric vehicles could replace 20% of the world’s traditional vehicles by 2030.

The number one barrier to the adoption of electric vehicles is cost and range anxiety. StoreDot batteries tackle both of the problems – faster charging reduces the battery volume and therefore – the end cost of an electric car.

Financials and Valuation

StoreDot has raised about $200M in five funding rounds. In the latest Series D round in May 2022, investors valued the company at $1.14B. British Petroleum, Daimler AG, Samsung Ventures, Singulariteam and Roman Abramovich’s fund have invested in the company.

Investments Rounds and Share Price

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Risks

StoreDot’s current valuation stands solely on the company’s potential. StoreDot doesn’t yet have its own production facilities – the first batch of its batteries was produced at EVE Energy’s production facility in China. If the adoption of electric vehicles takes longer than investors expect, this could affect the extremely positive assessment of the EV market.

The next-generation battery development market is characterized by intense competition and disruptive technology developments. Sila Nanotechnologies and Cuberg, recently acquired by Swedish battery maker Northvolt, are some of the startups working on innovative solutions. Samsung, LG, Panasonic and CATL dominate the market. These companies’ solid financial positions allow them to cooperate with leading electric car manufacturers: Tesla, Toyota, Volkswagen, Ford and others.

Low liquidity: investing in private companies at the pre-IPO stage is an opportunity to make money over a few years. If you exit early, the price may be significantly different from the purchase price or the selling process may take more than 1 month.