Alteva has raised €1.7M pre-seed funding led by High-Tech Gründerfonds

As the world is increasing efforts to combat climate change, it’s becoming imperative that the transport sector reduces its carbon footprint. In this regard, advancements in battery technology are essential in the development of electric transportation systems. Cologne-based startup Alteva will be one of the most impactful companies in this regard. alteva recently secured €1.7 million in pre-seed funding to develop cutting-edge battery cells tailored for applications in aviation, long-distance travel, and heavy goods transport. 

Company Overview

Founded by Ida Milow and Aiko Bernehed, Alteva is dedicated to creating high-performance battery solutions that facilitate the decarbonization of the global transport sector.

Alteva has tapped research by the German Aerospace Centre (DLR) in the hopes of tackling energy demands of industries where other types of battery technology do not have an edge. By looking to application areas of aviation and heavy-duty transportation, Alteva can tackle problems concerning energy density, weight, and safety critical for the said sectors. 

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Funding Details

The €1.7 million pre-seed funding round was led by High-Tech Gründerfonds (HTGF), a prominent seed investor in digital tech, industrial technology, life sciences, chemistry, and related fields. Other investors include UnternehmerTUM Funding for Innovators, NRW.BANK, and a group of angel investors. This diversified investment consortium speaks to the wide-ranging confidence in Alteva’s mission and technological approach.

Investor Profiles

• High-Tech Gründerfonds (HTGF) High-Tech Gründerfonds or HTGF, headquartered in Bonn, Germany, is an early-stage investor of a seed level into startups involved in various business fields, especially the digital-tech as well as industrial technology one. In June 2024, it had managed a fund worth €660 million with companies under its portfolio-EGYM, Mister Spex and commercetools among many more.
• UnternehmerTUM Funding for Innovators: Associated with UnternehmerTUM, the leading center for innovation and business creation in Europe, this fund supports high-potential startups through investment and strategic guidance.
• NRW.BANK: The development bank for North Rhine-Westphalia, NRW.BANK offers financial support to innovative startups contributing to the region’s economic development.

Use of Funds

The funds raised will be used for finalizing the design of Alteva’s prototypes of the battery cell. Based on satisfactory pilots with its lead customers, it aims to launch series production two to three years from now. This timeframe has been achieved due to Alteva’s strong interest in offering practicable solutions to cope with the stern requirements of the transportation industry.

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Technology Development

Alteva will focus on high-energy density battery cells with high safety profiles specifically designed for the aviation and heavy-duty transport sectors. Building on DLR research, the company looks to bring forth innovations that transcend the current constraints of battery technology. These breakthroughs are set to enable extended ranges, quicker charging times, and overall better performance in electric transport.

Alteva’s well-developed battery technology might dramatically change the outlook of transport through the following;

• Aviation. Short flights shall be easier when electrified thereby bringing down dependency upon fossil fuel along with their impact on emissions within the global scheme of greenhouse gases.
• Long- Distance Transport for Heavy Goods Vehicles. Battery with improved efficiencies are likely to send electric buses, trucks etc around thousands of kilometers longer distances which also calls forth the utility cost-effectiveness that electric-based methods would ensure more.

Alteva, through providing powerful battery solutions, is on the way to making sustainable transportation happen sooner and is contributing to the world’s fight against climate change.

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Future Outlook

Alteva is very well positioned to make great strides in the landscape of battery technology, with backing from reputable investors and a clear roadmap for development. The company focuses on sectors that have a substantial environmental impact and are aligned with global sustainability goals, thus opening up significant market opportunities. Its innovations could be pivotal in making electric transportation solutions widespread as Alteva progresses towards series production.

Summary

Cologne-based startup Alteva has raised €1.7 million in a pre-seed funding round led by High-Tech Gründerfonds (HTGF), with participation from UnternehmerTUM Funding for Innovators, NRW.BANK, and several angel investors. The investment will support the development of Alteva’s innovative battery cells aimed at decarbonizing the global transport sector.