Stockholm-based Battery circularity platform Cling Systems grows net revenue 10X

This news was one of many covered on April 11, 2024 in the Swedish Tech News PRO newsletter.

Cling Systems, the Stockholm-based startup developing intelligent systems for global battery circularity, grew net revenue almost 10x to 10.5 million SEK in 2023, according to the company's just published annual report.

Total revenue, including activated work for own account and other operating income, amounted to 17.6 million SEK. Loss was -4.5 million -SEK, compared to -1.8 million SEK in 2022.

Cling Systems was founded in 2020 by William Bergh. The company's circular platform both helps battery repurposers to build safe and cost effective second life energy system, and battery recyclers to produce new recycled raw material.

The startup announced its most recent funding round of 14.4 million SEK in late December, led by existing investors Trucks VC and First Venture. To date, Cling Systems has raised total Funding of 37 million SEK (3.5 million USD).

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