Battery maker Axeon Raises $7.8M for North American Production

Axeon logo

In brief: Lithium-ion battery maker Axeon has raised £5 million ($7.8 million US) in the latest round of funding in order to deploy development in North America.

The word

Axeon logoBased in the UK, the battery maker raised the five million pounds in order to move to the next phase in its development, specifically to expand production in Europe and begin early-stage planning of production in North America.

Most of Axeon's business is in power tools with new markets in mobile products (meaning vehicles) the expected growth market for the company.

And so ...

The field of li-ion battery makers is getting crowded.

Photo credits: Axeon

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