Sustainable battery use: Over eight million euros investment for Circunomics
GET Fund and Schaeffler AG invest in young Mainz-based company
The German start-up Circunomics GmbH (based in Mainz) successfully closed its Series A financing round in December 2024, raising over eight million euros from significant investors. Founded in 2019, the company promotes the circular economy for lithium-ion batteries by advancing internationalization and developing new digital services. With the increasing adoption of electric vehicles, the need to recycle or repurpose batteries in an environmentally friendly way has grown. Circunomics provides a unique battery lifecycle Management Solution, featuring a digital B2B marketplace and AI-powered analytics that consider the entire battery lifecycle, significantly contributing to CO2 reduction.
Start-up advances internationalization and product development: Circunomics offers a unique Battery Lifecycle Management Solution
Circunomics GmbH
The financing round was led by GET Fund (Munich) and Schaeffler AG (Herzogenaurach) through its investment arm, Schaeffler Invest GmbH. Existing investors, including the Polish oil and energy company, Orlen, and GG Rise (Düsseldorf), also participated.
"We now have the resources to expand internationally and firmly establish ourselves as a global company," says Felix Wagner, Co-Founder and CEO of Circunomics. He adds, "This successful Series A financing round opens up numerous opportunities to continue our business, drive growth, and ensure a sustainable circular economy." Jan Born, Co-Founder and CTO, comments: "In parallel with internationalization, we are working intensively on expanding our product offerings, which will include new digital services in the future."
Focus on Reuse and Recycling
Circunomics focuses on the B2B trade of used or surplus battery packs, modules, and cells via a digital marketplace. It facilitates transitioning energy storage systems from first-life use to second-life applications. The company's AI-powered software enables a detailed analysis of each battery's state of health (SoH) and uses digital twin technology to simulate which second-life applications best suit their performance potential. If batteries are unsuitable for second-life use due to their condition, they are directed to qualified recycling companies. Circunomics connects industry partners across all stages of the battery supply chain to enhance the reuse and recycling of batteries.
Investors Recognize Innovation and Potential
“Circunomics offers a valuable solution for both the transition to electromobility and renewable energy adoption,” says Julian Klaiber, Principal at GET Fund. “While one sector will face a significant supply of end-of-life batteries, the other requires storage and balancing capacities. We are excited to support a team and innovation that bridges both sectors, creating an added value chain and economic advantages for customers.”
“We are excited to begin this partnership with Circunomics. Together with the Mainz-based start-up, we aim to contribute to sustainable battery utilization. We see great potential in Circunomics' lifecycle management and digital marketplace for used batteries, particularly for electromobility and other industrial applications,” says Jens Schüler, Board Member of Vehicle Lifetime Solutions at Schaeffler AG.
Lower CO2 Emissions and Reduced Use of Precious Materials
"Through our independent digital marketplace and detailed analytics, we aim to strongly contribute to bringing battery packs, modules, and cells into a meaningful, sustainable, and comprehensive circular economy," says CEO Felix Wagner. "This reduces the carbon footprint for the benefit of the environment and decreases the use of rare, valuable materials. This also significantly optimizes cost structures for companies." Wagner adds: "The challenges and future potential for Circunomics are immense: globally, by 2030, the automotive sector alone is expected to generate five to six million used vehicle batteries annually that will reach the end of their lifecycle."
New and existing investors are contributing to the solid growth of Circunomics. GET Fund is a venture capital firm supporting start-ups across Europe in the area of green technologies for energy, mobility, and industry to build a sustainable future. Schaeffler, a leading motion technology company, brings extensive expertise in the automotive lifecycle through its Vehicle Lifetime Solutions division, benefiting Circunomics in terms of marketplace development, analysis, and the integration of additional features into its offerings.
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