CMBLU Secures €50M, Reaches $1B Valuation

German battery innovator CMBLU has officially joined the unicorn club, securing €50 million in a Series C funding round that values the company at approximately €1 billion. The investment was led by Samsung Ventures, with significant participation from existing backers, including construction and technology giant STRABAG, which previously injected €100 million into the company in 2023. This latest capital infusion propels CMBLU, a deep-tech firm specializing in non-lithium battery alternatives, into a new growth phase.

Founded in 2014 by Peter Geigle and now steered by former Lichtblick and Home24 executive Constantin Eis since 2024, CMBLU is developing its proprietary SolidFlow technology. This advanced energy storage solution aims to provide a sustainable alternative to traditional lithium-ion batteries, targeting high-demand applications requiring extended operational hours. The company, based in Alzenau, Germany, has now attracted over €250 million in total funding and employs a workforce of 250 individuals dedicated to advancing next-generation energy storage.

The strategic importance of solid-state battery technology cannot be overstated, as the global market for advanced battery solutions is projected for substantial expansion, driven by the electrification of transport and the increasing need for grid-scale energy storage. CMBLU's focus on a non-lithium approach addresses concerns around resource scarcity and environmental impact associated with current battery chemistries, positioning it favorably within this dynamic sector.

In parallel developments, enterprise AI startup Cirql One has successfully raised €5 million. This funding round was supported by prominent venture capital firms UVC Partners and Fly Ventures. Cirql One, established in 2025, focuses on developing enterprise AI solutions that leverage institutional knowledge embedded within systems like SAP, making complex business data accessible and actionable for AI applications. The company is headquartered in Heidelberg.

Further bolstering the startup ecosystem, Düsseldorf-based Damalo has secured €350,000 from a group of angel investors, including Arndt Schwaiger, Peter Leischner, Andreas Mackenstedt, Michael Malovecky, and Daniel Claeßens. Damalo is building an agentic AI platform tailored for Microsoft consulting and implementation services, operating under a "Service-as-a-Software" model.

In the mergers and acquisitions space, US-based energy software provider Stem has acquired Vienna-based ClimateTech firm Raicoon. This acquisition is expected to enhance Stem's PowerTrack platform by improving the analysis and actionability of operational data for renewable energy portfolios, enabling quicker identification and resolution of performance issues. Raicoon, founded in 2020, specialized in boosting the efficiency of photovoltaic systems.