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#SuccessStory: RWTH spin-off cylib raises €55 million Series A funding | With their cutting-edge technology developed at RWTH Aachen University, the team has scored the largest investment round ever raised by a European battery recycling company and is now set to advance the industrialization of its proprietary battery recycling technology. Less than 24 months after launching operations, cylib has closed a €55 million Series A funding round in equity financing, co-led by the leading European climate tech VC World Fund, and Porsche Ventures, and joined by Bosch Ventures, DTCF | DeepTech & Climate Fonds, NRW.BANK's venture arm NRW.Venture, existing investors Vsquared Ventures, Speedinvest, 10x Founders, and established business angels. cylib is a spin-off from RWTH Aachen University, founded by Lilian Schwich, Paul Sabarny, and Dr. Gideon Schwich. In 2022, the team decided to translate nearly a decade of research at the IME Process Metallurgy and Metal Recycling into a start-up with a patent-pending technology, which is also backed by RWTH as a virtual shareholder. Less than two years later, the spin-off is not just an integral part of our local #Aachen start-up ecosystem, having launched the #BatteryCircleAachen together with fellow Aachen-based battery start-ups; the start-up’s impact is also recognized on the national level, with CEO and co-founder Lilian being one of the Top 3 Female Newcomers at the #GermanStartupAwards2024. Congratulations to the entire team from all of us at RWTH Innovation! You are a shining example of successful research and technology transfer from #RWTHAachenUniversity to #InnovationWithImpact on industry and society. We are proud to accompany and support your entrepreneurial journey since the beginning and love seeing #RWTH research – and batteries – come full circle, literally. Keep pushing boundaries! Learn more here: https://lnkd.in/eNt9dqeA #ESCNRW #technology #transfer #innovation #startups #entrepreneurship #deeptech Ministerium für Wirtschaft, Industrie, Klimaschutz und Energie des Landes NRW

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Congratulations 🍾 cylib - there is money available for great #innovations - addressing #criticalrawmaterials and the #circulareconomy

Ich habe gelesen und hat mir gut gefallen.

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