Tozero Secures EUR 11M Seed Funding with NordicNinja's Backing
Deal News | Nov 15, 2024 | Osborne Clarke
Tozero, a Munich-based startup specializing in the recycling of lithium-ion batteries, has successfully completed a EUR 11 million seed funding round. Founded in 2022 by Sarah Fleischer and Ksenija Milicevic Neumann, Tozero aims to recover critical battery materials like lithium, cobalt, and nickel, supporting sustainable resource use. This funding round was led by NordicNinja, a Japanese venture capital firm, and included contributions from In-Q-Tel, Honda, and JGC Group, along with existing investors Atlantic Labs, Verve Ventures, and Possible Ventures. The raised funds will be used to build a pilot plant and expand Tozero's team. Shin Nikkuni, Co-Founder of NordicNinja, expressed confidence in Tozero's potential to transform the landscape of sustainable battery solutions. Osborne Clarke provided legal counsel to NordicNinja, with a team headed by Fabian Mimberg and Dr Benjamin Monheim.
Sectors
- ClimateTech
- Venture Capital
Geography
- Germany – Tozero is based in Munich, Germany, highlighting its geographic importance.
- Japan – NordicNinja is a Japanese venture capital investor, indicating the collaboration between German and Japanese entities.
Industry
- ClimateTech – The article focuses on Tozero, a startup in the ClimateTech sector, which aims to recycle batteries and reduce electronic waste.
- Venture Capital – NordicNinja, a venture capital firm, is the primary investor in Tozero's seed funding round.
Financials
- EUR 11 million – The total amount raised in Tozero's seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tozero | Target | Company | A Munich-based startup focusing on sustainable recycling of lithium-ion batteries. |
| NordicNinja | Bidding Company | Company | A Japanese venture capital firm that led the seed funding round for Tozero. |
| Osborne Clarke | Legal Advisor | Company | The legal advisor to NordicNinja for the seed funding round. |
| In-Q-Tel (IQT) | Investor | Company | Participated in Tozero's seed funding round. |
| Honda | Investor | Company | Participated in Tozero's seed funding round. |
| JGC Group | Investor | Company | Participated in Tozero's seed funding round. |
| Atlantic Labs | Investor | Company | An existing investor in Tozero, participating in the funding round. |
| Verve Ventures | Investor | Company | An existing investor in Tozero, participating in the funding round. |
| Possible Ventures | Investor | Company | An existing investor in Tozero, participating in the funding round. |
| Sarah Fleischer | Co-Founder | Person | Co-founder of Tozero. |
| Ksenija Milicevic Neumann | Co-Founder | Person | Co-founder of Tozero. |
| Fabian Mimberg | Lead Advisor | Person | Led the Osborne Clarke team advising NordicNinja. |
| Dr Benjamin Monheim | Partner | Person | Partner at Osborne Clarke responsible for NordicNinja's legal advice. |
| Shin Nikkuni | Co-Founder and Managing Partner | Person | Co-Founder and Managing Partner of NordicNinja. |