Polarium Raises $100 Million at over $1 Billion Valuation

Polarium is a startup providing enabling endless energy. It designs storage solutions for best-performing, sustainable, and safe energy that are built on lithium-ion technology. These solutions can be used on all continents, and in all climate zones. This year, the company was marked as the fastest-growing company in Europe by the Financial Times’ FT1000-ranking.

In the Series D funding round, investments were raised from AMF, which was added to the list of well-renowned investors such as Vargas Holding, Roosgruppen, and Beijer Ventures. This round made Polarium the latest Swedish unicorn. In plans, to accelerate the rapid growth rate. “Polarium is an incredibly exciting Swedish innovation company, with ambitious targets for both growth and expansion. With their smart solutions for energy storage and energy optimization, they have vast potential to play an important part in the global energy transition, contributing to more sustainable development globally,” Anders Oscarsson, Head of Equities at AMF.

Polarium, Sweden, was founded by Stefan Jansson in 2015. Recently, the company launched two new pilot projects. The first one is in partnership with Telia Company, a telecom operator in the Nordic and Baltics. “We have been on a rapid growth journey from day one. Helping the telecom sector to reduce their carbon footprint and increase their profitability by switching from diesel generators and lead-acid batteries for reserve power to smart lithium-based solutions,” Stefan Jansson, CEO, and founder of Polarium. The second is with Areim, a Swedish property owner and fund manager. In April, Polarium opened a new factory in South Africa, adding to those located in Mexico and Vietnam. This new factory’s capacity will allow it to produce over 300 000 batteries a year.

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