About Northvolt
Northvolt is a company based in Stockholm (Sweden) founded in 2016 by Harald Mix, Peter Carlsson, Carl Erik Lagercrantz, and Paolo Cerruti was acquired by Scania in April 2025.. Northvolt has raised $6.84 billion across 23 funding rounds from investors including Goldman Sachs, EIT InnoEnergy and Swedbank. Northvolt has completed 1 acquisition, including Cuberg. Northvolt offers products and services including Lithium-ion Cells, Sodium-ion Cells, Lithium-metal Cells, Voltpack Core, and Voltpack Mobile System. Northvolt operates in a competitive market with competitors including SunPower, Ambri, Verkor, Hydrostor and Cheesecake Energy, among others.
- Headquarter Stockholm, Sweden
- Founders Harald Mix, Peter Carlsson, Carl Erik Lagercrantz, Paolo Cerruti
- Stage Decacorn
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Northvolt Ab
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$6.84 B (USD)
in 23 rounds
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Latest Funding Round
$97.3 M (USD), Debt – Conventional
Mar 14, 2024
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Investors
Goldman Sachs
& 46 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
Scania
(Apr 11, 2025)
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Products & Services of Northvolt
Northvolt offers a comprehensive portfolio of products and services, including Lithium-ion Cells, Sodium-ion Cells, Lithium-metal Cells, Voltpack Core, and Voltpack Mobile System. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Batteries produced with low carbon footprint for energy storage.
Alternative batteries for sustainable energy applications.
Advanced batteries for high-performance industrial uses.
System for integrated battery solutions in various sectors.
Mobile battery management for e-mobility applications.
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Funding Insights of Northvolt
Northvolt has successfully raised a total of $6.84B across 23 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $97.3 million completed in March 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 23
- Last Round Debt – Conventional — $97.3M
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First Round
First Round
(18 Nov 2016)
- Investors Count 47
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Debt – Conventional - Northvolt | Valuation |
investors |
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| Jan, 2024 | Amount | Debt – Conventional - Northvolt | Valuation |
investors |
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| Dec, 2023 | Amount | Grant - Northvolt | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Northvolt
Northvolt has secured backing from 47 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Goldman Sachs, EIT InnoEnergy and Swedbank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment strategies are provided across diverse asset classes and markets.
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Founded Year | Domain | Location | |
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Investment banking services are delivered across multiple financial sectors.
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Founded Year | Domain | Location | |
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Sovereign wealth is managed and private equity investments are facilitated.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Northvolt
Northvolt has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Cuberg. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Lithium-ion batteries are developed using a patented solid electrolyte.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Northvolt
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Northvolt Comparisons
Competitors of Northvolt
Northvolt 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 SunPower, Ambri, Verkor, Hydrostor and Cheesecake Energy, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Silicon-based solar PV modules are manufactured for diverse applications.
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| domain | founded_year | HQ Location |
Liquid metal batteries are provided for long-duration energy storage.
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| domain | founded_year | HQ Location |
Lithium-ion batteries are manufactured for electric vehicles and storage.
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| domain | founded_year | HQ Location |
Compressed air is stored underwater for electricity generation.
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| domain | founded_year | HQ Location |
Solutions for compressed air energy storage systems are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Northvolt
Frequently Asked Questions about Northvolt
When was Northvolt founded?
Northvolt was founded in 2016.
Where is Northvolt located?
Northvolt is headquartered in Stockholm, Sweden.
Who is the current CEO of Northvolt?
Peter Carlsson is the current CEO of Northvolt. They have also founded this company.
Is Northvolt a funded company?
Northvolt is a funded company, having raised a total of $6.84B across 23 funding rounds to date. The company's 1st funding round was a Grant of $756.58M, raised on Nov 18, 2016.
What does Northvolt do?
Northvolt was founded in 2016 in Stockholm, Sweden, within the clean energy sector. Lithium-ion batteries are produced for electric and off-highway vehicles, with emphasis on low-cost solutions through innovative production technologies. Custom cells are developed for specific applications, alongside integrated battery systems. Operations are centered in Europe, supporting the transition to sustainable mobility.
Who are the top competitors of Northvolt?
What products or services does Northvolt offer?
Northvolt offers Lithium-ion Cells, Sodium-ion Cells, Lithium-metal Cells, Voltpack Core, and Voltpack Mobile System.
How many acquisitions has Northvolt made?
Northvolt has made 1 acquisition, including Cuberg.
Who are Northvolt's investors?
Northvolt has 47 investors. Key investors include Goldman Sachs, EIT InnoEnergy, Swedbank, Volkswagen Group, and Vattenfall.
What is Northvolt's valuation?
The valuation of Northvolt is $11.75B as of Jun 2021.
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