PORTFOLIO COMPANY ANAPHITE RAISES $13.7 MILLION

1 October 2024

Elbow Beach Capital announces its further investment in battery technology company Anaphite. Anaphite has raised a $13.7 million Series A round, which was co-led by World Funds and Maniv. Elbow Beach Capital participated in this fundraise as an existing investor, having led the last funding round into Anaphite in August 2022. Additionally, in March 2024, Elbow Beach led a government-backed investment round into the company ahead of Anaphite’s Series A.

The fresh capital injection will enable Anaphite to scale-up and expand their in-house dry coating capability and fully commission a plant with the capacity to deliver tonnes of the company’s patented composite cathode material. The funding will also support extensive new hires and further R&D investment to expand its technology portfolio.

Jon Pollock, CEO of Elbow Beach Capital, commented:

“We are delighted to have further supported Anaphite in raising $13.7 million in their Series A round. Technology like Anaphite’s is key to the energy transition, and the potential of their technology to significantly reduce the energy required for electrode manufacturing is a breakthrough in the industry. This makes Anaphite an incredibly compelling investment for us.”