Battery tech firm Carrar has raised $5.3 million in a Series A funding round. Online investment platform OurCrowd has participated in the funding round.
Other investors include Salida, NextGear Ventures along with existing investors, Next Leap Ventures, Drive Digital, Gentherm and more.
OurCrowd is a securities crowdfunding platform that allows smaller (Accredited Investors) to participate in these deals. The offering page on OurCrowd indicates over $1 million has been committed to Carrar.
Carrier has developed patented battery tech that is said to extend the life of an EV by 3X while enabling “ultra-fast charging” and preventing battery dies. According to the Carrar website, their technology enables 5-minute charging, which could put EVs on par with petrol.
The company is said to be “transforming e-mobility with battery modules and thermal management systems that dissipate twice the amount of heat of existing solutions, increasing battery lifespan three-fold.”
Tal Cohen, Founding Partner at Next Gear Ventures, said Carrar is addressing some of the pain points in the EV industry including battery cost, longevity and safety.
OurCrowd founder and CEO Jon Medved added that anyone wh0 understands EVs knows how critical it is to manage EV battery temperatures.
“Carrar is poised to provide a must-have solution to a critical problem in the fast-growing global EV market. With a growing list of customers and partners, now joined by an A list of value-added investors, Carrar has all the key ingredients for potential success.”
Medved noted that Carrar is located near Gaza and was attacked by Hamas on October 7th.
“We salute them and are proud to be among their investors,” Medved said.
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