Holyvolt, a Stockholm, Sweden-based battery materials technology company, has raised $45 million in funding to expand its AI-powered materials discovery platform and advance the development of next-generation battery technologies.
The financing was backed by Zone II Ventures, Course Corrected (CC.VC), and angel investors from the finance sector. Fifth Wall is also an existing investor in the company.
Founded in 2022 by Mathias Ingvarsson, who serves as CEO, Holyvolt develops battery materials using artificial intelligence, automated laboratory experimentation, and physical battery-cell testing. Its technology is designed to identify and evaluate new battery chemistries for energy storage, mobility, defense, and other applications.
The company’s Discovery Engine combines proprietary AI models with automated laboratories that manufacture and test battery cells. Results from these experiments are used to refine subsequent material predictions and development processes.
In March 2026, Holyvolt acquired US-based Wildcat Discovery Technologies, integrating its high-throughput experimentation platform into the company’s materials research operations. According to Holyvolt, the platform has supported more than 225 projects for over 85 customers and generated testing data covering more than 500,000 physical battery cells.
Holyvolt plans to use the new capital to expand its AI capabilities, laboratory capacity, and scientific team. The funding will also support the development and commercialization of its disordered rocksalt (DRX) cathode materials, which are designed to eliminate the need for nickel and cobalt.
The company is targeting initial commercialization of its DRX cathode materials in 2027, beginning with defense applications before expanding into mobility markets.
Holyvolt is headquartered in Stockholm, with operations in San Diego and Munich. Its leadership team includes Chief Operating Officer Steven Prast and Chief Scientific Officer Dr. Dee Strand.
