Holyvolt raises $45 million to develop AI-driven battery materials
Holyvolt, a Stockholm‑based startup that builds AI tools for discovering new battery chemistries, announced a $45 million equity round led by Zone II, CC.VC and several angel investors from the defense and finance sectors. The company told Fortune the financing values Holyvolt at $245 million, according to a person familiar with the deal.
Key points
- Holyvolt secured $45 million in equity from Zone II, CC.VC and angel investors, valuing the startup at $245 million.
- The company merged with Wildcat Discovery Technologies, using its high‑throughput testing data to train AI models for new cathodes.
- Holyvolt aims to launch its DRX cathode material in 2027 for UAVs, ahead of a U.S. defense ban on Chinese battery suppliers.
Holyvolt recently merged with San Diego’s Wildcat Discovery Technologies, a firm that has tested more than 500,000 cells and completed over 225 projects for customers such as BMW. Holyvolt says it has trained AI models on Wildcat’s high‑throughput data, creating a loop where lab tests sharpen predictions and the models guide the next experiments. The startup claims its lab operates about ten times faster than conventional R&D, based on a customer case study.
The first product from this loop is a cathode family called DRX (disordered rocksalt), which Prast describes as delivering “NMC‑like” performance at roughly the landed cost of LFP and with a fully friendly supply chain. Holyvolt plans to start commercializing DRX in 2027, beginning with unmanned aerial vehicles, just before a U.S. defense law bars Pentagon purchases from Chinese battery makers after Oct. 1 2027.
Holyvolt, which develops AI tools for making and testing new battery materials, raised $45M from Zone II, CC.VC, and others, a source says at a $245M valuation
fortune.com · 18 October 2026
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