Rincell Corporation Secures $1.2 Million in Seed Funding Round
- ByStartupStory | January 8, 2024
Rincell Corporation has successfully secured a seed funding round of $1.2 million to accelerate its mission of electrifying high-impact carbon emission products through cutting-edge cell chemistries. The investment, oversubscribed and led by NextGen Battery Chem Ventures LLC, managed by prominent venture capitalist Sandiip Bhammer, marks a significant milestone for the advanced chemistry battery cell manufacturer.
Founded in 2023 by Jignesh Parikh and Dr. Jagjit Nanda, Rincell Corporation boasts an impressive team. Jignesh, the CEO, brings a wealth of experience in scaling businesses and supply chain management, having previously held key positions at American Lithium Energy, Hitachi, Intel, and Western Digital. Expressing enthusiasm for the collaboration, Jignesh remarked, “We’re thrilled to be partnering with Sandiip Bhammer… With this investment, Rincell is poised to accelerate our mission of electrifying critical sectors.”
Dr. Jagjit Nanda, Rincell’s Chief Scientific Officer, renowned for his groundbreaking work in battery technology research, highlighted the significance of the partnership, stating, “This partnership with NextGen Battery Chem Ventures will help bring our innovative battery chemistries to market faster.”
Sandiip Bhammer, reflecting on the investment, emphasized their commitment to pioneering technologies, noting, “Our investment in Rincell reflects a commitment to pioneering technologies that are set to revolutionize global energy storage and supply.”
Remarkably, within a year of its establishment, Rincell has already started shipping samples of its highest capacity-performance batteries to government and commercial clients, including Inventus Power. Chris Turner, CTO at Inventus Power, praised Rincell’s progress, stating, “We are excited about the progress Rincell has made… and will continue to work closely with Rincell.”
The funding infusion from NextGen Battery Chem Ventures positions Rincell to advance its silicon-graphite batteries towards commercial production by CY2024, ready to address diverse sectors such as medical, defense, and electric vehicles.
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