About COnovate
COnovate is a company based in Milwaukee (United States) founded in 2016 by Carol Hirschmugl and Joep Coenen. COnovate has raised $3.53 million across 7 funding rounds from investors including SBIR Advance, OSTI.GOV and Tundra Angels. The company has 6 employees as of December 31, 2024. COnovate offers products and services including eCOphite. COnovate operates in a competitive market with competitors including Jacobi Carbons, Cancrie, CarbonX, Birla Carbon and UP Catalyst, among others.
- Headquarter Milwaukee, United States
- Employees 6 as on 31 Dec, 2024
- Founders Carol Hirschmugl, Joep Coenen
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Sectors
Chemicals & Materials
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Phone
*********
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Website
*********
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Social
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- Legal Name Conovate, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.53 M (USD)
in 7 rounds
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Latest Funding Round
$2.53 M (USD), Series A
Dec 30, 2024
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Investors
SBIR Advance
& 5 more
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Employee Count
6
as on Dec 31, 2024
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Products & Services of COnovate
COnovate offers a comprehensive portfolio of products and services, including eCOphite.
Advanced nanomaterial for faster charging and higher capacity in lithium-ion batteries.
Funding Insights of COnovate
COnovate has successfully raised a total of $3.53M across 7 strategic funding rounds. The most recent funding activity was a Series A round of $2.53 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series A — $2.5M
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First Round
First Round
(02 Jul 2018)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2024 | Amount | Series A - COnovate | Valuation |
investors |
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| Dec, 2022 | Amount | Grant - COnovate | Valuation |
investors |
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| Jul, 2022 | Amount | Grant - COnovate | Valuation |
investors |
Investors in COnovate
COnovate has secured backing from 6 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include SBIR Advance, OSTI.GOV and Tundra Angels.
| Investor | Description | Founded Year | Domain | Location |
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An angel investor network focused on high-growth startups is operated.
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Founded Year | Domain | Location | |
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Investment capital and advice are provided to early-stage companies.
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Founded Year | Domain | Location | |
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Scientific and technical information is managed and disseminated by OSTI.GOV.
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Founded Year | Domain | Location |
Investments & Acquisitions by COnovate
Financial Statements - COnovate
Conovate Comparisons
Competitors of COnovate
COnovate operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Jacobi Carbons, Cancrie, CarbonX, Birla Carbon and UP Catalyst, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
High-quality activated carbons are manufactured from coconut shells.
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| domain | founded_year | HQ Location |
Nanocarbon materials for energy storage solutions are developed.
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| domain | founded_year | HQ Location |
Nanosized carbon structures are manufactured from filament-based networks.
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| domain | founded_year | HQ Location |
Manufacturer of carbon black additives
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| domain | founded_year | HQ Location |
Carbon nanomaterials are sourced from waste biomass for production.
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| domain | founded_year | HQ Location |
Producer and suppliers of carbon black
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Latest news on Conovate
Frequently Asked Questions about COnovate
COnovate was founded in 2016 and raised its 1st funding round 2 years after it was founded.
COnovate is headquartered in Milwaukee, United States. It is registered at Milwaukee, Wisconsin, United States.
Carol Hirschmugl is the current CEO of COnovate. They have also founded this company.
COnovate is a funded company, having raised a total of $3.53M across 7 funding rounds to date. The company's 1st funding round was a Grant of $181.5K, raised on Jul 02, 2018.
As of Dec 31, 2024, the latest employee count at COnovate is 6.
Founded in 2016 in Milwaukee, United States, carbon-based nanostructure products and equipment are developed by COnovate within the advanced materials sector. A platform is provided to enable drop-in solutions for accelerated charging in lithium-ion batteries. The COphite material is presently being scaled for integration into battery anodes, supporting enhancements in energy storage technology. Operations center on material innovation for industrial applications.
COnovate's top competitors include Cancrie, UP Catalyst and Jacobi Carbons.
COnovate offers eCOphite.
COnovate has 6 investors. Key investors include SBIR Advance, OSTI.GOV, Tundra Angels, Milwaukee Venture Partners, and Jennifer Abele.