Cling Systems is a technology company.
Cling Systems has raised $2.0M across 1 funding round.
Cling Systems has raised $2.0M in total across 1 funding round.
Cling Systems has raised $2.0M in total across 1 funding round.
Cling Systems's investors include Amino Collective, High-Tech Gründerfonds, M13, Rethink Ventures, Rolf Schrömgens.
Cling Systems is a Stockholm-based startup founded in 2020 that builds an intelligent B2B marketplace platform for trading used lithium-ion batteries, primarily from electric vehicles, to enable circularity through optimal second-life applications, data management, and recycling.[1][2][3][4] It serves verified professionals including automotive manufacturers, battery producers, repurposers, recyclers, and brokers, solving the lack of transparency in end-of-life battery supply chains by coupling each battery with its material content, location, and data for efficient trading, logistics, and material recovery.[1][2][4] The platform offers aggregated battery supply (averaging 40 MWh or 300 tons added monthly), structured data, and safe logistics, operating in 30 countries with strong growth momentum evidenced by the 2024 SET Award in Clean Energy and Storage, seed funding of about $1.3 million from investors like FV Ventures and Trucks VC, and expansion plans into the US and China.[1][3][5]
Cling Systems was founded in 2020 in Sweden by William Bergh (Founder & CEO), with key early team members including COO Gunnar Magnusson, CTO Axel Sundberg, and others like data engineer Rasmus Lindqvist and CMO Eden Yates.[3][4] The idea emerged from the global challenge of lithium-ion battery waste amid the rise of electric vehicles and clean energy, where established energy and transport sectors lacked transparency for circular value chains—each end-of-life battery being unique for second-life uses or recycling.[2][3] Early traction came from building the world's first B2B platform for spent EV batteries, securing seed funding, partnerships with OEMs and recyclers, and recognition like the 2024 SET Award, which validated their approach to simplifying battery data management and trading.[1][3]
Cling Systems rides the explosive growth of electric vehicles and renewable energy storage, where lithium-ion battery demand creates massive end-of-life waste but also opportunities for circular economy—recovering critical materials like lithium and cobalt amid supply shortages and regulations pushing sustainability.[1][2][3] Timing is ideal with global EV adoption surging, EU battery passport mandates, and US Inflation Reduction Act incentives for recycling, positioning Cling to streamline opaque supply chains in a market projected to need efficient global trading platforms.[1] It influences the ecosystem by enabling collaboration, reducing linear "mine-produce-discard" models, and accelerating clean tech transitions, as seen in its SET Award win and partnerships that boost material recovery rates.[1][4]
Cling Systems is poised for scale with US and China expansion, leveraging its platform's network effects as battery volumes explode—potentially dominating data-driven circularity in a $20B+ recycling market.[1][6] Trends like AI-optimized matching, regulatory pressures for traceability, and second-life battery demand for grid storage will propel growth, evolving its role from marketplace to essential infrastructure for climate tech supply chains. This leadership in battery recycling innovation ties directly to solving the clean energy waste challenge at its core.[1][2]
Cling Systems has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in December 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2021 | $2.0M Seed | Amino Collective, High-Tech Gründerfonds, M13, Rethink Ventures, Rolf Schrömgens |