StoreDot is an Israeli battery technology company specializing in silicon-dominant extreme fast charging (XFC) lithium-ion batteries for electric vehicles (EVs), enabling charges like 100 miles in 5 minutes to eliminate range and charging anxiety.[1][2][5] It serves global OEMs such as Polestar by providing production-ready cells that maintain performance in extreme conditions, like charging to 80% at -10°C and delivering 70-85% range at -20°C to +14°F, while offering longer life through AI-optimized chemistry.[2][4][5] The company solves key EV adoption barriers—slow charging and winter degradation—via bio-inspired nanoparticles replacing graphite anodes, with validated tech by seven OEMs and a path to commercialization.[4][5]
Pivotal growth includes 2024 milestones like EV pack demos and US expansion, 2025 OEM validations and Polestar 5 demo, and a December 2025 business combination with Andretti Acquisition Corp. II to accelerate XFC rollout as a Western alternative to Chinese batteries.[2][4]
Founded in 2012 by Doron Myersdorf, Simon Litsyn, and Gil Rosenman in Herzliya, Israel, StoreDot originated from Tel Aviv University research on peptide-based technologies discovered by Ehud Gazit.[1][3] It initially targeted peptide nanocrystals for mobile displays (20% more efficient, 90% cheaper than OLED) and data storage (3x faster than conventional memory), with prototypes in 2012 and commercialization plans for 2016 that didn't materialize.[1][3]
The company pivoted multiple times: to displays in 2015 (spun off to inactive MolecuLED by 2019), then fast-charging batteries for phones (30-second charge targeted for 2016), and finally silicon-dominant XFC EV batteries around 2016-2019, dropping unachieved germanium and drone targets.[1][3] Early traction built on nanotechnology insights, like nano-silicon structures for efficient charging, evolving into AI-driven R&D for EV scale-up.[1][5][6]
StoreDot stands out in EV batteries through:
These enable a refueling-like EV experience while being a geopolitically strategic Western tech.[4]
StoreDot rides the EV mass adoption wave, targeting the top consumer pain point—charging times longer than gas refueling—amid surging demand for 30-minute-or-less infrastructure.[2][4] Timing aligns with 2025+ regulatory pushes for faster charging, OEM needs for non-Chinese supply chains, and AI/materials advances enabling breakthroughs.[4][5][6]
Market forces favor it: EV sales growth despite "range anxiety," silicon anode hype, and Western derisking from China dominance (StoreDot validated as alternative).[4] It influences the ecosystem by partnering with cell makers (50/50 volume split), OEMs for integration, and via SPAC-like combo for funding/scale, accelerating XFC standardization and smaller-pack designs.[4][6]
StoreDot's 2025 OEM validations and Andretti merger position it for 2026 commercialization of 100-in-4 tech, with US production ramp and pack shipments driving revenue.[2][4] Trends like AI-battery optimization, silicon dominance, and sub-10-minute charging mandates will propel it, potentially capturing share in premium EVs from Polestar partners onward.[4][5]
Influence may evolve from innovator to supplier backbone, enabling ubiquitous XFC and reshaping EV UX—transforming "anxiety" to "advantage" as batteries match ICE convenience.[2][4] This builds on its pivot resilience, delivering where early promises fell short.
StoreDot has raised $66.0M in total across 2 funding rounds.
StoreDot's investors include Altair Capital Management, Cardumen Capital.
StoreDot has raised $66.0M across 2 funding rounds. Most recently, it raised $60.0M Series C in August 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2017 | $60.0M Series C | Altair Capital Management | |
| Jun 1, 2013 | $6.0M Series A | Altair Capital Management, Cardumen Capital |
