San Francisco-based battery startup Estes Energy Solutions, Inc. has secured $11 million in a recent Seed funding round, marking a significant milestone in the company’s mission to advance energy storage technology. The round was co-led by BMW i Ventures and Fortescue, with additional support from New System Ventures and early investor DCVC. This brings the total capital raised by Estes to $20 million to date.
The funding will be used to finalize the development of Estes’ groundbreaking multi-chemistry battery pack platform, which is designed to utilize both NMC (Nickel Manganese Cobalt) and LFP (Lithium Iron Phosphate) cells. This innovative approach aims to enhance battery performance and affordability, addressing key challenges in the electrification era.
In addition to product development, Estes plans to establish manufacturing operations in the United States, a move that underscores its commitment to domestic production and job creation. The company is focused on driving improvements at the pack level through novel materials and advanced manufacturing techniques.
For over two decades, battery cell innovations have been the primary driver behind cost reductions and increased energy density. However, Estes is charting a new path by focusing on pack-level advancements, positioning itself as a leader in the next generation of mobility solutions.
With the support of prominent investors like BMW i Ventures, which specializes in sustainable mobility, and Fortescue, a global leader in green energy, Estes is well-poised to decarbonize electrification and transform how energy storage systems are built and utilized.
This investment signals strong confidence in Estes Energy’s vision and technology, as the world increasingly turns to sustainable energy solutions to combat climate change. The company remains in stealth mode but continues to make strides toward reshaping the future of electrified powertrains.
Alfred Lee
